We understand that your business may be facing unexpected financial challenges during these trying times. To help relieve the stress that may be associated with making your loan payments right now, we are offering business members the choice to defer First Commerce real estate secured business loans. 
Opt-in to a One-Month Loan Deferral for Business Loans
Secured by Real Estate Due Between April 20-May 19
Business members have the choice to opt-in to a deferral on qualified First Commerce business loans secured by real estate with a due date between April 20 and May 19, 2020.

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

*Note : For business loans that are more than 90 days past due as of April 20, 2020, please contact us to discuss your needs by calling 1.800.533.5772, pressing 1 and then ext. 1252
How to Opt-In for Business Loan Deferral

First Commerce business members can start the process of opting-in to a deferral by completing the online “Business Loan Deferral” request form available on our web site. Once the form is submitted, a member of our team will contact you with the necessary paperwork and to provide further assistance.

  1. ACCESS the COVID-19 Business Loan Deferral request form.
  2. Provide the information requested on the brief online form. Review your information to ensure everything is accurate, and then click SUBMIT.
  3. After submission, a First Commerce team member will contact you with the necessary paperwork and to assist with your loan deferral request. 

ADDITIONAL LOAN DEFERRALS FOR CONSUMERS

If you also have a consumer loan with First Commerce that is not secured by real estate (building and land), we have automatically extended due dates for most loans with due dates between April 20 and May 19, 2020 . This deferral applies for consumer loans that were active as of March 19, 2020. In most cases, depending on how you set up your payment, there is nothing you need to do for these automatic deferrals to take place – we have taken care of everything for you. If you have set up an automatic payment, please read on for specific details.
 
Note: Loan deferrals will not be automatically applied for loans that are 90 days or more past due as of April 20, 2020, members who pay their credit cards in full each month, first mortgages, home equity loans, home equity lines of credit (HELOCs), Milestone Mortgages, or business real estate secured loans. In any of these situations, if you would like to request a deferral, please visit our COVID19 or Deferral web page   for options, or if you need assistance for any reason, please contact us directly by calling 1.800.533.5772, pressing 1 and then ext. 1230.
What You Need to Know About Your Business Loan Deferral

  • Effect on Loan Due Date. For loans with monthly and semi-monthly due dates that fall between April 20 and May 19, the due date will be pushed to the same date(s) of the following month (e.g., for a loan with an upcoming due date of April 25, we will push the due date to May 25). For loans that are paid weekly or bi-weekly, due dates will be pushed out four weeks (e.g., for a loan with an upcoming due date of April 25, we will push the due date to May 23).

  • 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, 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 made 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 or, if you would like to make your payment, simply transfer the funds to the loan. For security reasons, For security reasons, First Commerce is not able to request this for you.
Additional Resources and Assistance

For updates on our response to the COVID-19 pandemic, visit our COVID-19 Response web page, as well as our Economic Impact ("Stimulus")Payments web page. On these pages, you will find information including:

  • Updates on federal Paycheck Protection Program Loans for Businesses and Independent Contractors
  • FCCU COVID19 Financial Relief Programs
  • Information about our Extended Hours in our Contact Center and Drive-Thrus
  • Financial Center Locations and Hours To Schedule “Contactless” Appointments For Material Needs Only
  • Links to find out the status of Economic Impact or “Stimulus” Payments
  • How We’re Helping Our Local Businesses And Communities Through #LocalStrong
  • Protecting Yourself from Fraud & Scams
  • Free Digital Banking & Mobile Deposit Quick & Easy Online Enrollment and Information
  • Enrollment information for Free Real-Time Text/Email Alerts
  • An Overview of Video Teller Service
Disclosures: 
* 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. Members with loans more than 90 days past due as of April 20 must contact us. 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.  For consumer and business real estate-related loans, members must initiate the deferral process; please visit the Deferral and COVID-19 on our website for details. Regular deferment fees will be waived.