Emergency Relief Loan Program (ERLP)
Emergency Relief Loan Program (ERLP)
San Francisco Federal Credit Union has an Emergency Relief Loan Program (ERLP) for members affected by declared emergencies and/or disasters including those recently impacted by the North Bay area fires.
Emergency Relief Loan Program
-
A closed end, unsecured loan of $5,000*
-
Interest rate for the first 90 days at 0%, then a 4% APR will apply for the remaining term of the loan*
-
No payments are due and interest will not accrue during the first 90 days of the loan
-
No prepayment penalties
-
Maximum repayment term is 24 months*
* Example: Pay $43.42 per month per $1,000 borrowed for 24 months at 4.00% APR.
For more information on the credit union’s Emergency Relief Loan program, please call 415.615.7088 or toll free at 800.852.7598
General Emergency Relief Loan Program Guidelines
-
Members residing and impacted in a declared emergency/disaster area that is declared by the Governor of the State, the President of the United States and/or the Federal Emergency Management Agency (FEMA)
-
To assist members with access to funds to cover immediate needs, manage their cash flow while recovering and, to provide funds in coordination, not competition with available FEMA aid
-
Individuals and business members must be in good standing with the credit union for a period of 60 days or more to be eligible to receive program assistance
-
Member must apply within 45 days of the declared disaster
-
Only one Emergency Relief Loan per member household
