PEARL RIVER, N.Y. – Palisades FCU said it will allow its members to skip their August and September loan payments through its “Take the summer off” loan program.
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All members of the $150-million credit union in good standing can abstain from paying their August and September loan payments without it damaging their credit by having only the interest accrue on their accounts.
“Although we’ve done this for the past two years, we felt as though the local economy has only marginally improved, creating a need for our members again this year,” said Mark Welshoff, president of Palisades. “We hope this gives some of our members who might be struggling some breathing room.”
