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121 Financial Credit Union Announces Automatic 60-Day Deferment for All Consumer Loans

March 30th, 2020 · Leave a Comment

121 Financial (pronounced “One to One”), Jacksonville’s hometown credit union, recently announced it is automatically deferring all eligible consumer loans and credit cards for 60 days amidst the coronavirus (COVID-19) pandemic.

“Now is the time for people to focus on the health and well-being of their families, not to be worried about whether they’ll lose their house or car,” says David Marovich, Chief Executive Officer of 121 Financial Credit Union. “We know this is an unbelievably stressful time for everyone, and we want to make it clear that we are committed to helping our members and community weather this crisis.”

Loan deferments and “skip a pay” are always options to give member financial flexibility, but typically require a phone call, paperwork, and a few steps to activate. With this automatic 60-day deferment, 121 Financial members do not have to do anything to take advantage of the program. However, they will need to personally cancel any automatic payments already set up.

If preferred, members can continue to make their normal payments and keep their current amortization schedule.

For more information, refer to 121 Financial’s COVID-19 Information Center at https://121fcu.org/covid for answers to common questions about these consumer loan deferments as well as for general operational updates.

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