COVID-19 Financial Assistance – Downeast Credit Union
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COVID-19 Financial Assistance

Posted on October 14, 2020 | Special

Downeast Credit Union continues to aid our members who may be struggling with financial hardship relating to the coronavirus pandemic. As part of the “People Helping People” collaborative, we have a variety of options in place that may relieve some of your stress in an already difficult time.

Programs available to existing members facing COVID-19 related hardship include*:

Financial Hardship AssistanceAre you worrying month after month, wondering how you will make the payment on one or more of your DECU loans? We may be able to help! To see if you qualify for first-time or continued assistance, complete the Financial Hardship Application below. There is no fee to apply. Submitting a complete application and related documents* will allow for a thorough review of your current situation to determine your eligibility for immediate and temporary relief (Skip-a-pay) or if you qualify for a longer-term loan modification.

  • Documentation must be received within 15 days of your Application

  • Proof of Income (most recent 4 weeks paystubs)
  • Bank Statements (Non-DECU, past 2 months)
  • Insurance Declarations Page (for Auto/Recreational Loans only)
  • Other documents supporting your hardship
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    Please allow up to 5 business days from receipt of all information for a decision. If approved, some form of payment may be required.

    Email any questions to skipapay@downeastcu.com or call us at 1-207-454-9005.

    Apply Now:
    Financial Hardship Application

     
    Hardship Loans

    o No interest loan up to $1,000 with no payment due for 90-days.

    Hardship Loans PRINT & MAIL Hardship Loans APPLY in ONLINE BANKING

     
    Lobby Access & Appointments

    o Currently our lobbies are open in all branches except Bangor; members must wear masks to be served in the lobby. Our Bangor team is available by appointment to assist our members; call to set up a meeting. Downeast CU: 1-800-427-1223; Downeast Insurance: 1-866-897-1365

     
    As a reminder, DECU is available to assist over the phone at 1-800-427-1223, in the drive-thru, or through our online and mobile services:

    Online Banking

    Mobile Banking & Mobile Deposit

    Debit Card

    Credit Card

    Mobile Wallet (Apple, Google & Samsung Pay)

    ATM Locations (Even though our lobbies are closed, the ATMs in the entryways are open. Also enjoy free access through SURF & CO-OP locations.)

     
    Insurance Savings

    o Downeast Insurance has compiled a list of COVID-19 related relief options and special coverages available to insurance clients during this time. Click here for details.

    The health and safety for our members, team, and the community is a top priority, and that includes your financial health. We hope that the programs designed will assist you and your families as we all transition through this situation. Please watch this website and Facebook page for any new changes that might arise.

    *Hardship loans available to members experiencing loss of income due to COVID-19: proof of reduced income, paystub, credit evaluation and underwriting required. Loans available up to $1,000 for 12-months with 0%APR; 90-day grace period on payments, afterward monthly payments would be $83.34 for 12-months. Existing members only and eligibility requirements apply. Program starts March 23, 2020; all Credit Union loan programs, rates, terms and conditions are subject to credit approval and may change at any time without notice.
    Skip-a-Payment applications are subject to final approval. Skips do not extend the term of any credit insurance policy you may have obtained though the credit union or other coverages in connection with your loan. Examples include but are not limited to Credit Life, Credit Disability, Debt Cancellation, GAP, or Vehicle Service Contract. Extends the due date of your final loan payment by one or two months. Interest will continue to accrue on unpaid balances through skipped payment period. Equal Housing Opportunity and Federally Insured by NCUA.

    For more info, visit our COVID-19 FAQ Page or our COVID-19 Updates Page.