Borrower Assistance

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Notice for member-borrowers impacted by coronavirus illness or shutdowns

Due to the Coronavirus pandemic and nationwide shutdowns, we understand that it may be difficult for a lot of our members to work.  As such, Actors Federal Credit Union is offering financial relief to those members who have suffered a loss of income.

What type of relief is being offered?

  • Qualifying members may be approved for a fee-free deferral of their monthly payment(s) on:
    • Consumer loan(s)
    • VISA credit card(s)
       
  • Members may also apply for an approved hardship on a Mortgage and/or Home Equity Line of Credit

Who is eligible for assistance?

Member-borrowers who have suffered a loss of work due to the coronavirus shutdown. Documentation will be required. 


Free Skip-A-Pay on VISA Credit Cards: 

To help ease our members' financial burden, qualifying ActorsFCU VISA credit cardholders* have automatically been opted-in to a free Skip-A-Pay program.  To see if you are eligible, please check your May billing statement.  If your required minimum payment due is $0, then your account is enrolled in Skip-A-Pay.  If your required minimum payment due is anything greater $0, then your account is not enrolled in Skip-A-Pay, and you are still required to make your minimum payment.

Members enrolled in Skip-A-Pay are not required to make any payments for the May or June billing cycles.  However, interest will still accrue during any time period without a payment.  You are still welcome to make payments in any amount if you choose to do during this time. 

Restrictions apply, please see the disclaimer below. 

*Disclaimer: cardholders who have had one or more sixty-days past due mark(s), or two or more thirty-days past due marks in the past 12 billing cycles will not be included in this special offer.  Any accounts that have blocked will not be included.   Regular monthly payments will still be required for members that do not qualify for this Skip-A-Pay program.

Apply for Relief on a Consumer Loan:

To submit a request for a fee-free payment deferral on a consumer loan, please send an email to relief@actorsfcu.com with the following information: 

  • Your full name as it appears on your ActorsFCU accounts

  • The last 4-digits of your ActorsFCU account number

  • The type of loan(s) you're applying for (e.g., personal loan, auto loan, etc.)

  • Attach to the email, a description of your particular hardship/situation.  Please include any information you'd like for us to consider.  Here's a brief example: "I am out of work until April 12th to COVID-19 shutdowns.  I need help making my auto loan payment."

  • Attach to the email your most recent pay stub.  If you have a payroll direct deposit with ActorsFCU, you may skip this step.

  • Attach to the email a notice (e.g., email or letter) from your employer stating your work has been interrupted/suspended/canceled due to COVID-19 / coronavirus.

  • If you work under an employment contract, please attach it to the email as well

Once your email is received with all of the required information, our lending staff will review it and respond as soon as possible.  All requests will be considered on a case-by-case basis.  Thank you for your patience!  Please continue to make your required payments until you have approved for payment defferal.


Apply for Real Estate Loan Hardship

To submit a request for a qualified hardship on a mortgage or HELOC, please email us at mortgages@actorsfcu.com with the following information:

  • Your full name and property address as it appears on your mortgage records or ActorsFCU accounts

  • The type of loan(s) you're applying for; mortgage and/or HELOC

  • A clear written explaination of your hardship

  • Attach to the email a completed copy of our Mortgage Assistance Application (click to open application).  Please complete to the best of your ability.  No signature is required at this time.  If approved, your signature will be collected via DocuSign later.

  • Review our Mortgage Assistance Checklist (click to open checklist) and make sure you attach to the email all of the documents to that apply to your situation.

Once your email is received with all of the required information, someone from our real estate lending team will review it and respond within five business days with their decision.  All requests will be considered on a case-by-case basis.  Thank you for your patience!  Please continue to make your required payments until you have been approved for a loan hardship.

As of 07/10/2020
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