Loan Support

Special Loan Assistance Programs for Members in Need due to COVID-19

We understand that the rapidly changing COVID-19 pandemic is negatively affecting our members and we want to help. Here are some options available to those who are experiencing difficulty making their loan payments. Note, we too are impacted by the shelter-at-home warning and are working with fewer team members. We will process requests as quickly as possible. Thank you for your patience!


Vehicle and Signature Loan Payment Deferral/Extension

We have a simple and streamlined process for members to skip eligible vehicle or signature loan payments. Stay at home! Use our secure online form. Need more help? Instructions and eligibility are found below.


Mortgage Loan Payment Deferral

Members may defer payments for 90 days on residential closed-end owner occupied and residential closed-end investment property loans. Stay at home! Use our secure online form. Need more help? Instructions and eligibility are found below.


Emergency Loans

Low interest rate personal loans are available for our members impacted by this pandemic, in amounts up to $5,000.00 with interest rates as low as 1.00% APR*

Once you reach the question “Is this an Emergency Assistance Loan?” during the application, select “Yes.”


Economic Injury Disaster Loans for Small Businesses

Economic Injury Disaster Loans (EIDL) were included in the CARES Act passed by Congress on March 27, 2020. The loans through the SBA will provide working capital loans to help small businesses of all sizes to meet their ordinary and necessary financial obligations that can’t be met as a direct result of this Coronavirus disaster. While SESLOC is not a designated SBA lender, we’re providing information to help you get started.  See how to apply for this loan here »


How to Submit a Vehicle or Signature Loan Payment Deferral Request Online

The following loans are eligible for payment deferral:

  • Auto
  • Recreational vehicles
  • Mobility vehicles
  • Signature loans

Eligible loans must be:

  • No more than 30 days past due at the time of the request
  • Not under bankruptcy protection

To request a payment deferral, complete Loan Assistance Payment Deferment Request and Agreement*

  • Enter full name and email address.
  • A secured Loan Assistance Payment Deferment Request and Agreement will be sent to the email provided by you via DocuSign.
  • Please have your Member Number and Loan ID available to complete request (can be found on your monthly statement).
  • You may request up to two months payments be deferred at a time.
  • All signers on the loan must complete this form.

Just like many other organizations impacted by COVID-19, we too are impacted by the shelter-at-home warning and are working with fewer team members. Due to the large number of requests, please allow 10 business days for processing. Please avoid calling, if possible, to allow us to allocate team members to processing your request.

  • Once your payment deferral request is processed, you will be able to see the updated next “Payment Due Date” on your loan account in online banking.

Once your payment has been deferred, please stop your automatic payment to the loan:

  • If you set up your automatic payment using online banking, please log in to Online Banking and cancel automatic payments for the months being deferred.
  • If you set up your automatic payment from another financial institution, please contact them to stop the automatic payment.
  • If we’ve set up your automatic payment from a SESLOC account we will stop the automatic payment and reverse the payment to your SESLOC deposit account as necessary.
  • You will need to reinstate automatic payments after the end of the deferral period, if you wish for automatic payments to continue in the future.

*All Vehicle and Signature loan payment defferal requests are subject to SESLOC Federal Credit Union approval. Conditions and restrictions apply. Terms subject to change without notice.


How to Submit a Mortgage Loan Payment Deferral Request Online

The following loans are eligible for payment deferral:

  • Residential closed-end owner occupied
  • Residential closed-end Investment property

Eligible loans must be:

  • No more than 30 days past due at the time of the request
  • Not under bankruptcy protection

To request a payment deferral, complete the  Loan Assistance Mortgage Payment 90-Day Deferral Request*

  • Enter full name and email address.
  • A secured Loan Assistance Mortgage Payment 90-Day Deferral Request will be sent to the email provided by you via DocuSign.
  • Please have your Account and Loan Number available to complete request (can be found on your monthly statement).
  • All signers on the loan must complete this form.

Just like many other organizations impacted by COVID-19, we too are impacted by the shelter-at-home warning and are working with fewer team members. Due to the large number of requests, please allow 10 business days for processing. Please avoid calling, if possible, to allow us to allocate team members to processing your request.

  • If your request is approved you will receive a second secured DocuSign email containing a 90-day Deferral Agreement for you to sign and return to us.

Once your payment has been deferred, please stop your automatic payment to the loan:

  • If you set up your automatic payment using Online Banking, please log in to Online Banking and cancel automatic payments for the months being deferred.
  • If you set up your automatic payment from another financial institution, please contact them to stop the automatic payment.
  • If we’ve set up your automatic payment from a SESLOC account we will stop the automatic payment and reverse the payment to your SESLOC deposit account as necessary.
  • You will need to reinstate automatic payments after the end of the deferral period, if you wish for automatic payments to continue in the future.

*All 90-Day Deferral Requests are subject to SESLOC Federal Credit Union approval.   Conditions and restrictions apply.   Terms subject to change without notice.

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