Downeast Credit Union has developed new products to assist members through times of financial hardship relating to the coronavirus. As part of the “People helping people” collaborative, Downeast will be offering options to help extend payments on existing loans and providing special hardship loans to assist members who have been affected by COVID-19.
Special products and programs available to existing members facing hardship related to COVID-19 include*:
o No fee to skip up to two payments during the months of March, April or May on qualifying closed-end loans (auto, recreational, personal, and other closed-end loans; excludes mortgages).
o APPLY HERE (Must have email address to apply online; indicate which months you would like to skip. All borrowers and owners of collateral will need to sign the form.)
o Or call our Skip-a-Pay Call Center directly at 1-207-454-9005.
o No fee option to skip your upcoming mortgage payment (Please note if you have escrow you will need to pay that portion of your payment to qualify for the skip.)
o Call for details on applying 1-207-454-9001.
o No interest loan up to $1,000 with no payment due for 90-days.
Digital Service training
o DECU team members will be calling to work one-on-one with members by phone, training on enrolling in online banking, mobile app, eStatements and more
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.
o Our team is available by appointment to assist our members and insurance clients; call to set up a meeting. Downeast CU: 1-800-427-1223; Downeast Insurance: 1-866-897-1365
If you have questions about the Skip-a-Payment programs, please email us by CLICKING HERE or call our dedicated Skip Team directly at 1-207-454-9005. We will promptly return your call if you need to leave a voicemail.
As we are experiencing a high call volume at this time, we ask that those seeking assistance from our Collections Department please leave a voicemail and we will return your call within 24-business hours. We are also opening up our call tree options so that the phone calls ring in to more team members so we can assist you more efficiently.
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.)
Additionally, Downeast Insurance offices are closed to client foot traffic, and they encourage you to call an agent for service at 1-866-897-1365, utilize the DECU drive-thru, or contact your insurance carrier directly to make payments.
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-Payments 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.
For our members’ convenience, links are available in this website to allow quick access to other sites that may be of interest. Clicking on a third party link will take you out of Downeast Credit Union’s website to an alternative website not operated by DECU. The Credit Union is not responsible for the content of the third party website and does not represent either the third party website or the member if you enter into a transaction. Privacy and security policies of the website to which you are linking may differ from those practiced by DECU.