SPECIAL LOAN PROGRAMS
to Support Members Impacted by the COVID-19 Pandemic
Updated May 11, 2020
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. If you have futher questions, please call us at (805) 543-1816. Thank you for your patience!
Economic Injury Disaster Loans for Small BusinessesEconomic 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 » |
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How to Submit a Consumer Loan Payment Deferral Request Online
The following loans are eligible for payment deferral:
- Auto
- Recreational vehicles
- Mobility vehicles
- Signature loans
- Visa Credit Card
- Line of Credit
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 Agreement1
- Enter full name and email address.
- A secure 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(s) 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 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.
1All Consumer loan payment deferral 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 Request2
- 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.
2All 90-Day Deferral Requests are subject to SESLOC Federal Credit Union approval. Conditions and restrictions apply. Terms subject to change without notice.