Our Response to COVID-19

Updated as of March 27, 3:00 pm, ET

These are challenging times. Our focus is and will continue to be serving you. We want to reassure you that your funds are safe and secure under NCUA despite the market volatility caused by COVID-19. We understand that the COVID-19 virus has impacted almost every aspect of our membership’s lives, and we are here to help. We are vigilant and prepared to offer solutions that best meet your financial situation. No matter the challenge, we hope you’ll count us in.

How we are helping.

 


If you need further assistance beyond these options provided, we have additional resources available to assist you with your financial needs including mortgage, home equity line of credit, credit card or business loans. Please contact us, because we are here to help you.  Count us In.

 

Loan Payments

On April 1, all due dates on Addition Financial consumer loans will automatically move forward one month.

For example, if your due date is April 1, it will move to May 1. If you have paid ahead, your due date will move out one additional month.

Which loan due dates will be moved automatically?

  • Auto loans
  • PLOCs
  • Signature loans
  • Recreational vehicle loans (such as RVs, boats and motorcycles)
  • CD and Share Secured loans


Do I need to do anything to make this happen?

No, your loan payment due date will move automatically.  You do not need to do anything.


What if I have automatic payments set up?

If you do not want your payment to go through, you will need to cancel it in the same manner that you had originally set it up. If you need any assistance please call our Contact Center.


Can I continue to make payments?

Yes, if you are able, we encourage you to continue to pay your loan on your normal schedule.


Will I still be charged interest?

Yes, your loan will continue to accrue interest during the deferral period. That is why we encourage you to pay your loan as you normally would if you are financially able to do so. It will save you money in the long-run. 

If you decide to defer your payment, the next payment you make will all go toward accrued interest first. It is important to understand that deferral of payments will increase your finance charges over the life of the loan. This may increase the number of payments you need to make in order to pay off the loan. It can also change the amount of your final payment.


Are there exclusions?

Exclusions do apply. You will not be eligible for the due date extension if:

  • You are 60 or more days delinquent
  • You have a charge-off history on your account
  • You are classified as a bankruptcy on our system
  • Pending or in active repossession status
  • Collection action pending

 

Waived Skip-A-Pay Fee

Our Skip-A-Pay program is offered year round for members who want to defer their consumer loan payment by one month within a 12 month rolling period. 

To provide our members with financial relief during these difficult times, we are now offering members the ability to do two Skip-a-Pays within a 12 month rolling period. Normally, there is a $15 application fee associated with Skip-A-Pay. We have waived our Skip-A-Pay application fee for all members during this crisis. With Skip-A-Pay, you will not need to make a payment for the next two months.

What if I already used Skip-A-Pay?

Members who took advantage of Skip-A-Pay in the last 12 months may use it an additional time at no fee for COVID-19 financial relief. Members who took advantage of Skip-A-Pay between March 8 and March 26 will be refunded their $15 fee.

 

Waived CD Early Withdrawal Fee

We are waiving early withdrawal penalties on your CDs to make it easy for you to access your money when you need it.

 

Disaster Assistance Loan

We are offering our Disaster Assistance Loan as an option for members who have been impacted financially by COVID-19.


What you can do.

We encourage you to take steps to protect your own family. For the latest information, guidance and planning recommendation, please click here to be redirected to the CDC household readiness website.

  1. 1
    Online Banking: You can access your accounts in online banking. If you have not yet enrolled, you can  register now. Having difficulty registering or using online banking? Watch our how-to videos.
  2. 2
    Download the mobile app: Members are encouraged to download the Addition Financial app in the App Store or Google Play. Through the app, you can complete transactions such as depositing checks, making loan payments and conducting internal and external transfers.
  3. 3
    Visit an ATM: Check our Locations & Hours page to find a convenient ATM location. You may also access your funds at any Presto! ATM. And when you use your Addition Financial debit card at a Presto! ATM it's surcharge-free.
  4. 4
    Contactless Cards: As a reminder, all Addition Financial debit and credit cards are contactless capable so you can avoid touching a terminal or handling cash.
  5. 5
    Digital Wallets: Options for contactless transactions include connecting your debit card to Apple Pay®, Samsung Pay® and Google Pay™. Or, you can use any credit card at retailers if you do not want to enter your PIN, and it’s a good idea to carry a pen to sign any receipts as well as hand sanitizer to avoid germs.
  6. 6
    Be cautious of scams: many fraudsters take advantage of scary scenarios to spread malicious links. One popular phishing scam circulating now is a link promising a map-view of the coronavirus spread. Be suspicious of any links online and only click on links from sources you trust.

Our promise to our employees.

We are implementing measures internally to help prevent the spread of the virus. We have shared instructions with our staff on the importance of washing their hands, using hand sanitizer, and frequently wiping down their work surfaces with sanitizing wipes. Cleaning services at all of our facilities have been stepped up with additional janitorial staff and supplies. All employees have been asked to refrain from non-critical travel. We have postponed or cancelled all large meetings and gatherings. We value our employees and understand the need for flexibility. We have implemented flex scheduling for caregivers, provided emergency paid time off for ill employees, and continue to move employees to remote work when possible.


Our commitment to you.

We remain secure. Your funds on deposit with Addition Financial are insured up to $250,000 by the NCUA. It’s like FDIC but for credit unions. Plus, Addition Financial is strong, secure and well capitalized. As a member, you are an owner of the credit union. We take that responsibility very seriously, so we will continue to make decisions during this unprecedented time in our history based on your needs and the needs of the organization.


On the + Side.

We’ve developed On The + Side, a weekly blog full of positive news and resources to keep you in good spirits during this time of uncertainty. With social distancing, school closures and curfews in place, we are experiencing an unprecedented new normal that has required us to make significant adjustments to the way we live our lives. Through our On The + Side series, we hope to make life a little easier as you navigate this time of major transition.

Read our On the + Side blog here.


Our branch hours.

 

Addition Financial takes the health and safety of our members, team members and community members very seriously. We are developing and implementing solutions so we can continue to serve you while following social distancing mandates.

Branch lobby by appointment:

The following services may be conducted in-branch by appointment only. To book an appointment, please click here.

  • Safe deposit box access
  • Medallion and Notary services
  • Wire transfers
  • New debit card printing

Drive-thru hours:

We are temporarily extending our service hours in the drive-thru to give you more time to manage your finances.

  • Monday–Wednesday: 8 a.m.–6 p.m.
  • Thursday: 10 a.m.–6 p.m.
  • Friday: 8 a.m.–6 p.m.
  • Saturday: 9 a.m.–2 p.m.

The following services are available in our drive thru:

  • Withdrawals and deposits
  • Payments
  • Cash advances
  • Cashiers checks
  • Money orders