CCU Loan Waiver | September 2021
|Greetings Valued Members,
CLICO Credit Union (CCU) is aware of the ongoing challenges that the COVID-19 restrictions have placed on many of us. As our country gradually progresses towards a sense of normalcy, CCU, “Your Life Partner For Financial Services,” is providing waiver options to help alleviate the financial hardship that may be experienced during the pandemic.
- Members are asked to fill out the Application for Loan Instalment Waiver Form
- Once filled out, print the form, sign it, and scan it as an attachment in an email addressed to email@example.com
• A maximum 3-month waiver period will be available to members that qualify.
▪ A Member or his/her spouse experienced a reduction in income due to the COVID-19 pandemic as evidenced by payslips for the current and prior months.
▪ In the absence of a payslip due to layoff/termination, the member or his/her spouse must produce evidence via a termination letter from their respective employer(s).
▪ Self-employed members must produce bank statements for the prior three months
▪ Members’ accounts must be in good standing as of May 31, 2021.
• Waiver requests that do not meet the Qualification Criteria will not be considered.
• Members who have received arrears notices after May 31, 2021, will be eligible for loan restructuring.
• Members who are granted a waiver will not be granted new loans during the waived period.
• TTDF members whose run-off date falls within the waiver period may qualify once their ability to repay has been verified.
• Members who have already accessed a one (1) month waiver for the year will receive a maximum waiver of two (2) additional months.
• In the event of loans with a Guarantor or Co-Maker, both parties must consent to the waiver.
We are encouraging our Members to contact our Member Service Representatives at 624-0669 or email us at firstname.lastname@example.org with any queries or challenges you may be facing. We look forward to supporting you, our members, as we continue to deal with the pandemic together.