UAL Credit Union Financial Assistance
This document was published by the United Airlines Employees Credit Union and explains some benefits and information about financial assistance they offer.
As your Lifetime Financial Partner, United Airlines Employees' Credit Union, supports you through the various changes in your life. Your membership lasts a lifetime, delivering full access to all the products and services we offer, including additional assistance during difficult financial times. With approval from the Board of Directors, we have implemented a Loan Repayment Program to support our members facing financial hardship due the recent furlough and reduction in pay announcements of our sponsor, United Airlines. This program consists of a Temporary Payment Reduction Plan and Loan Repayment Assistance Plan for members in good standing.
Temporary Payment Reduction Plan
Allows furloughed members to reduce current loan payments up to 50% for a maximum of 6 months. Thereafter, payments will resume at the regular payment. As a result, the loan payoff date will be longer than originally scheduled.
Loan Repayment Assistance Plan
Enables members experiencing financial difficulties due to a reduction in pay to reduce current loan payments by 10%-30% for a maximum of 6 months. Thereafter, payments will resume at the regular payment. As a result, the loan payoff date will be longer than originally scheduled.
Members who qualify for Soldiers & Sailors Relief can have their rates reduced to 6.0% APR and can also qualify for the Loan Repayment Program.
Any Loan Officer can assist you with the Temporary Payment Reduction Plan or Loan Repayment Assistance Plan. Simply call (800) 328-1935 (M-F 7:00am - 7pm CT) or visit your local Service Center.
*Due to regulatory restrictions Nationwide First Mortgage loans do not qualify for either plan. Retro Loans, AutoEdge Loans, Home Equity Products also do not qualify for either plan.
If you have MEMBER'S CHOICE™ Protection on your loan(s), you should file that claim first before any Loan Repayment agreement is granted. MEMBER'S CHOICE™ Protection claims must be filed within 180 days of the incident of unemployment.
If an employee takes voluntary unemployment, they are not eligible for a MEMBER'S CHOICE™ Protection claim or the Loan Repayment Program.
