The North Alabama area is not immune to the economic troubles taking place worldwide. Unemployment in our area is near 9%. School systems in the area have been forced to layoff employees, reduce hours, and reduce payroll expenses. There are members within the credit union from all types of employers, some that have experienced significant declines in their revenues.
The credit union realizes that bad things can happen to good people. Being laid off or having your pay reduced is traumatic enough. Worrying about how to pay back a loan is usually the least of concerns when you are trying to put food on the table or trying to keep a roof over your head. If you have a loan with the credit union and have experienced a financial set-back, please contact one of our Loan Officers to update us on your situation. There are deferred payments, loan modifications, payment reductions, and other assistance tools available. People are embarrassed at times about their situations and they shouldn't be. The credit union is here for a reason - to help our members with their financial needs.
I can't think of a greater financial need that providing assistance when a job has been lost or when income has been reduced. Talk to us and together we can work out a plan.