A benefit of being a Brewer Federal Credit Union Member: Brewer Federal Credit Union offers members an opportunity to skip a loan payment(s) twice during the year!
Here’s how it works: For a fee of $25.00 per loan, you may skip one payment (subject to certain restrictions*). Simply complete the form, enclose the $25.00 administration charge per loan, or let us know if you’d like the fee withdrawn from your account, and either drop it off at one of our Brewer Federal Credit Union offices. You may also mail, fax, or email it to us.. It’s that easy! A loan officer will do the rest.
*Interest will continue to accrue on loans during the deferred period. The net effect will be to lengthen the term of your loan(s). Life and/or Disability insurance will cease as determined by the original loan term. Mortgages, Home Equity Loans, overdraft protection loans, and Visa accounts are excluded from this offer. All loans must be current and your credit union account(s) must be in good standing. New loans less than six (6) months old are not eligible. To be eligible, a time period of six (6) months must have elapsed between skipped payments. Additional restrictions may apply.
If you have any questions, please feel free to call the credit union at your convenience.