Please contact a Loan Officer or our Collections Department if you see that maintaining your existing loan obligation with North Alabama Educators Credit Union is becoming difficult. The credit union can help with alternative payment plans and internal loan consolidations to make loan repayments more affordable. We would rather work out a plan to repay an obligation than to repossess an automobile or file a lawsuit to collect an debt obligation. The key though is to communicate your financial situation as soon as possible if you see that you are unable to meet your financial obligations. Please do not feel ashamed or embarrassed by contacting us for help. That is what we are supposed to do - help our members with their financial needs.
While North Alabama Educators Credit Union has not been involved with any of the sub-prime mortgage loans or non-traditional adjustable rate loans, we certainly know that some of our members could have participated in these type of loan programs from other lenders.
The Consumer Credit Counseling Service of the Tennessee River Valley is a recommended resource for member assistance in the areas of budget planning, money management skills, confidential credit counseling, and voluntary debt management plans. Their local office is located at 1015 Airport Road, Suite 205, Huntsville Alabama 35802. Their telephone number is 256-881-1000. There is no cost to consumers for the available services.