Seeking to provide financial relief to members who have been involuntarily affected by job loss or have taken pay cuts, Alliant Credit Union is offering a new Member Assistance Program (MAP). Through this program, affected members who qualify can reduce their loan payments by 30%, thus extending the term of the loan, it said. The program covers loans for new/used cars, RVs, boats, motorcycles, and airplanes, as well as unsecured loans and loans secured either by stock or shares. The program primarily helps United Airlines' workers; Alliant CU was previously known as United Airlines Employees.
The program is being extended to Alliant members with loans in good standing who have been involuntarily displaced from their jobs, or have taken involuntary pay cuts. The program will not affect individuals' credit ratings. All requests for MAP are being handled electronically, and a dedicated e-mail address has been established, ACU said. Qualifying members can make payments beyond their new minimum amounts without penalty. Loans not covered by MAP include mortgages, credit cards, home equity loans and home equity lines of credit. Mortgages and equity loans aren't covered by MAP because both feature extended terms already.
