As the impact of  COVID-19   continues to unfold, you can count on First Commerce to be your financial partner for life!
 
We understand that you may be facing unexpected financial challenges during these trying times. To help relieve the stress that may be associated with making your loan payments, we have implemented automatic loan deferrals for all First Commerce qualifying loans.
REMINDER:
Automatic Loan Deferral for Loans Due Between March 20 and   April 19, 2020
Payments on First Commerce loans, both personal and business, including credit cards, with a due date between March 20 and   April 19, 2020 (as of 3/20/20) ,  have been automatically deferred for 30 days ( excludes first mortgages) .   This applies to all members who have First Commerce loans as of March 19, 2020.*

NEW!: Additional Automatic 30-Day Loan Deferral for Loans Due Between April 20-May 19
We are automatically extending loan deferrals for another 30 days for qualifying First Commerce loans, both personal and business, including credit cards, with a due date between April 20 and May 19, 2020 .

Note: In addition to first mortgages, automatic deferrals do not include members who have loan payments more than 90 days past due or members who pay their credit cards in full each month. In any of these situations or you need assistance for any reason, please contact us directly by calling 1.800.533.5772, pressing 1 and then ext. 1230
  • Effect on Loan Due Date. The due dates for your loan that fall in these ranges will automatically be pushed to the same date(s) of following month. There is nothing you need to do. This includes loans that are paid monthly, weekly, biweekly and semi-monthly. For example, if you have a loan with an upcoming due date of April 10, we will automatically push the due date to June 10; March 20 would be pushed to May 20. Members with credit cards who pay their balance in full each month should contact us about options at (800) 533-5772.

  • Payment Drafted from a First Commerce Account. If First Commerce set up your automatic transfer, there’s nothing you need to do. If you set up a recurring loan payment in digital banking on your own, you will need to go into the Digital Activity Center to modify your transfer to start with the next due date.

  • Payment Drafted from Another Financial Institution. If your loan payment is automatically drafted from an account at a financial institution other than First Commerce you have options. Depending on how your payment from your other Financial institution was set up, your payment may still come to First Commerce, but should be available in your savings or checking account instead of being applied to your loan. 
  • Contact your other financial institution to request pausing your payment for one month. For security reasons, First Commerce is not able to request this for you.

As always, you have the choice to make your regular loan payment or additional payments at any time. Payments may be made remotely through Digital Banking, Video Teller Service and the Contact Center.
Additional Resources and Assistance

For updates on a variety of resources and information designed to help you safely and securely manage all your banking needs, visit our COVID-19 Response web page. On this page, you will find information including:

  • FCCU COVID19 Financial Relief Programs
  • Our Administration of the SBA Payroll Protection Program – Member Applications Are Our First Priority!
  • Digital Banking & Mobile Deposit Quick & Easy Online Enrollment and Information
  • Video Teller Service
  • Protecting Yourself from Fraud & Scams
  • Real-Time Email and Text Alerts
  • Financial Center Locations and Hours To Schedule “Contactless” Appointments For Material Needs Only
  • How We’re Helping Our Local Businesses And Communities Through #LocalStrong

As we continue to monitor developments related to COVID-19 with your financial well-being in mind,   we will consider extending our financial relief programs and adding others.

Thank you for being a valued member of First Commerce.
Disclosures: 
* Automatic Loan Deferral:  Your loan maturity will be extended and regular payments will resume after the deferred payment period. Finance charges will continue to accrue as outlined in your Loanliner Agreement, Retail Installment Sales Contract or Credit Card Agreement during the deferment period. Deferred payments may not be covered under GAP waiver agreements. For FCCU Credit Card members who typically pay their credit card balance in full each month, we will not apply this deferment automatically as that would cause interest to accrue. If you would like to take advantage of the deferment knowing you will have interest accrue, please contact us directly.   Regular deferment fees will be waived.