Financial Assistance Loan

Qualified borrowers can delay their first payment for up to 90 days after loan disbursement. Interest will continue to accrue during the deferral period.

Loan disbursement time varies, but approved members typically receive funds within a few business days, depending on the product and documentation.

Yes. You must be a current Andrews FCU member with at least a $5 deposit into a Base Share Savings account.

Depending on the loan product, we may be able to adjust your payment due date to align with your financial schedule.

Yes, late fees are applied once the loan exceeds its grace period, which varies depending on the loan type. Interest accrues daily depending on the loan type. Mortgage loans follow an amortization schedule and Credit Cards use an Average Daily Balance (ADB) method.

Average Daily Balance Method

• The average balance of your credit card is calculated by adding up the balance at the end of each day during the billing cycle and dividing it by the number of days in the billing cycle.
• The interest is calculated by multiplying the average daily balance by the daily periodic rate, then multiplying that by the number of days in the billing cycle.

Ignoring the debt may result in further collection efforts including reporting late payments to the credit reporting agencies, repossession, foreclosure and/or assigning the account to a collection attorney or agency. Do not hesitate to contact one of our experienced counselors for assistance.

We report accounts as late to the credit bureaus after the loan payment is more than 30 days past due.