If you or your family are impacted by circumstances surrounding the COVID-19 pandemic, Y-12 FCU can help. We want you to know we’re here for you.
Pandemic Assistance Loan (PAL) Program*
We have created a loan program to assist members during this difficult time. Members may apply for an unsecured loan at 0%APR fixed rate for the first six months and 3%APR fixed rate for the remainder of the loan term.
The special rate is available to existing Y-12 FCU members who are directly impacted by the pandemic and meet specific qualifications. It offers a maximum amount limit of $5,000, a maximum term of 48 months, and members can take up to 90 days to make their first payment. Any amounts over $5,000 will be converted to a signature loan and will not be eligible for this assistance loan.
Members can apply online using the link below or by contacting us at 865-482-1043. When applying online, please select Signature Loan and our lending team will reach out to you.
Apply Now!
*The PAL is for new money only and not intended for debt consolidations.
Consumer Loan Payment Deferment
To help our members possibly impacted by the pandemic, we are deferring April payments for 30 days for qualified consumer loans in good standing. This offer only applies to consumer installment loans and does not include mortgage loans, home equity lines of credit, business loans, or credit cards. Members with qualifying loans will receive an email by 3/30/2020. No action is required to accept this offered payment deferral and there is no fee related to the deferral. You will simply resume your normally scheduled payment in May.
Of course, if you prefer to make your regularly scheduled payment you are welcome to do so. Making the payment as scheduled will avoid any changes to total interest paid or the final loan maturity date.
The dates will be advanced after close of business on 3/31. Your due date will advance even if your loan is paid ahead, up to a maximum of 90 days. This automatic payment deferral does not count toward your annual or lifetime skip-a-pay limit.
If you think you have a qualifying loan, you may confirm if your due date has advanced by checking your account in online or mobile banking. If you have questions regarding this offer or your loan status, please contact us at 865-482-1043.
By accepting this automatic deferment, you agree to the following:
- Interest will continue to accrue, and you will pay more total interest to pay off your loan.
- This deferred payment will extend the term of your loan.
- If you have GAP coverage, credit insurance, or other debt protection products on this loan, any additional payments (beyond the original maturity date) resulting from the deferred payment may not be covered by the GAP coverage, credit insurance, or debt protection product.
- If your payment is made through our ACH program, you must notify us to cancel the automatic payment. If your ACH payment cannot be stopped in time, your skipped payment will be delayed until the next scheduled payment.
- If you have scheduled recurring payments using our online payment center or another bill pay service (including automatic payments from another financial institution), you must log in to that site to suspend the payment. Y-12 FCU is unable to cancel these payments.
- Recurring payments set up through a Y-12 FCU Auto-transfer or ACH will be automatically canceled.*
*We are making every effort to cancel all recurring payments that are within our control. If your payment is processed in error, please contact us so that we can correct it.
Mortgage Loan Payment Relief
Mortgage loan payment relief, including home equity lines of credit, may be available for those impacted by the COVID-19 pandemic. Please contact us at 865-340-4587 to discuss your options.
Commercial Loan Relief
Commercial loan payment relief may be available for those impacted by the COVID-19 pandemic. Please contact your loan officer or business services at 865-535-0512 to discuss your options.
Y12 FCU is not an SBA lender and is not participating in any of the stimulus lending packages, including the Payroll Protection Program. Please visit the
SBA website for more information or to apply for disaster assistance.
Grace Period Extended on Share Certificates at Maturity
Effective on Monday, March 23
rd, the grace period after maturity for members to make changes to their share certificates is temporarily extended from seven to twenty days.
Phone Payment Fees Waived
For added convenience while our lobbies are closed, our payment by phone fee will be waived until further notice. You may call our Member Service Center to make a loan payment without a fee. You may also make a payment using our
Online Payment Center anytime at no charge.
Increased ATM Withdrawal Limits
To assist members with easy access to cash while our branch lobbies are closed, we have increased the
daily cash withdrawal limit for consumer and business debit cards to $1,500*. Check out our
ATM Locator map to find the free ATM closest to you. Simply type your address in the search bar and check surcharge free ATMs in the search options. This will show you any Y-12 FCU ATMs, Easy Street ATMs, or Coop Network ATMs – all FREE to Y-12 FCU members. You can hover over each location or click it on the map to see the street address.
*Individual ATM machines have dispense limits, so large withdrawals may require multiple transactions. Excludes Opportunity Checking, Student Checking, HSA, and Business Limited accounts.