One less payment to worry about
To alleviate the financial pressures that many of our members may be experiencing during this pandemic, Andrews Federal has advanced loan due dates forward 60 days, effective July 31, 2020. This loan due date extension does not apply to Cash to Go loans. The loan due date extension applies to all open consumer loan products to include (excluding loans more than 59 days past due):
- New and Used Auto loans
- New and Used Boat, Motorcycle, and RV loans
- Personal Signature loans
Effective Friday, July 31, 2020, we have advanced the due date of your loan(s) for a sixty (60) day period, approximate to your loan payment frequency. For example, if you pay your loan monthly, your loan due date will be extended by two (2) monthly payments. If your loan is set up for biweekly payments, your loan due date will be extended by four (4) biweekly payment cycles. For specific details on your new loan due date(s), refer to your periodic statement.
This due date extension means that you will not need to make any payments on your loan until your new due date. You may continue to make your payments if you choose to do so. There is no fee associated with this payment extension. You may choose to Opt Out of this payment extension. All of your other loan terms still apply.
The Credit Union anticipates that this will be the last automated due date extension that will be processed on your loan(s), and that your loan payment(s) will resume on your next natural due date as of October 1, 2020. If you still require assistance as of that date, please contact us so that we may determine the best solution for you.
Important: If you choose not to make payments during this time, be sure to temporarily suspend any automatic transfers that you have scheduled to pay your loan(s).