ORNL FCU to Offer Pandemic Assistance Loan Program
March 18, 2020
We are a member-owned, not-for-profit community credit union. That means profits are paid back to you with higher savings rates and lower loan rates.
Oak Ridge, TN - March 18, 2020 - ORNL Federal Credit Union has created a loan program to assist members who have been negatively impacted by the ongoing COVID-19 pandemic. The Pandemic State of Emergency Assistance Loan Program offers impacted members the opportunity to apply for an unsecured loan at 0% interest for the first six months and 3% fixed interest for the remainder of the term.
The special rate is available to ORNL FCU members who meet specific qualifications, including very limited underwriting requirements. It offers a maximum term of 48 months, members can take up to 90 days to make their first payment, and the limit is based on the impacted member’s income.
“We anticipate many members could be impacted by the pandemic state of emergency and we want to be prepared to help them in their time of need,” said Colin Anderson, President & CEO of ORNL FCU. “Our goal is to make sure our members and their families are taken care of during this uncertain time.”
Eligible members can take advantage of the Pandemic State of Emergency Assistance Loan Program by contacting the Credit Union at 865.688.9555 or 800.676.5328. Members can also stop by any ORNL FCU branch for more information.