Loan Assistance Program

Help related to the coronavirus (COVID-19)

Provident is committed to providing assistance to members directly impacted by the COVID-19 coronavirus. We are here to help when you need it most.

We provide financial relief programs for members that have suffered a loss or disruption in income due to the coronavirus. We are reviewing all requests as quickly as possible, but it may take up to 5 business days depending on volume.

Mortgage Loan Information

Homeowners with PCU mortgages who are directly impacted by the coronavirus may be eligible for the following:

Send your completed form to loanservicinginquiry@providentcu.org, fax to (650) 508-7286, or attach on a secure message to our Loan Servicing department. To send a secure message, simply sign on to online banking and click on “Message Center” then “Contact Provident” and select the “Loan Repayment Solutions” category.

Note: Provident is completing all requests as quickly as possible, but it may take up to 5 business days depending on volume.

Mortgage Deferment Request Form

Mortgage Payment Extension and Repayment Process

Provident will be in touch with currently enrolled members approximately one month before the end of the initial 3-month relief period to discuss if you are eligible for extension or to determine the repayment options available If you have questions about your options and you are within 1 month of the relief period ending, please contact Loan Servicing at (800) 632-4600 ext. 2706, however, we strongly suggest you send us a secure message for prompt service.

For all other Loan Servicing questions, call (800) 632-4600 ext. 2706 or send us a secure message through online banking.

* Interest will continue to accrue on the outstanding balance of your mortgage account during the relief period.

Consumer Loan and Credit Card Information

Provident can provide assistance to those members with consumer loans and credit cards due to financial hardships associated with the coronavirus.

SKIP-A-PAY PROGRAM

Members can apply to skip up to three monthly payments (April, May and June) and if you have already skipped April, May and June you may now skip a fourth month (July) on your consumer loan(s) or credit card(s) — free of charge — to assist with any related financial impacts (see Extension Options below). Accepting this offer will extend the maturity of your consumer loan by the number of payments skipped. Interest will continue to accrue on the outstanding balance of your loan or credit card account during the skip period.

Provident will assist members in waiving fees associated with late payments. We will also not report late payments to the credit reporting agencies for members that enroll in this program.

The qualifications for the skip-a-pay program are:

Send your completed form to loanservicinginquiry@providentcu.org, fax to (650) 508-7286, or attach on a secure message to our Loan Servicing department. To send a secure message, simply sign on to online banking and click on “Message Center” then “Contact Provident” and select the “Loan Repayment Solutions” category. For any additional questions, please call (800) 632-4600.

Skip-A-Pay Agreement Form


Extension options

Our Skip-a-Pay loan assistance program will be extended to July. For consumer loans, eligible members have the ability to request a July skip-a-pay within online banking. In addition we will send members an email with additional options if you are not an online banking user. For credit cards that have skipped June, we will be sending an email opt-in for July (no online option is available).


Temporary Payment Reduction for Vehicle Secured Loans

Members may also be eligible for a temporary payment reduction on their vehicle secured loans free of charge. This allows the member to pay only the interest due on their loan during the payment reduction period and does not directly extend their loan(s) like our skip-a-pay program above. Provident will assist members in waiving fees associated with late payments due to financial hardships associated with the coronavirus.

The qualifications for temporary payment reduction are:

Additional months of interest-only payments may be available upon request to members enrolled in the current program. To request the additional month, please call Loan Servicing at (800) 632-4600 ext. 2706.

Temporary Payment Reduction Agreement Form

Emergency Loan

Existing Provident members as of March 16, 2020 may be eligible for an Emergency Loan to those who are directly impacted by the coronavirus. For more information on our Emergency Loan please contact our Consumer Lending department at (800) 632-4600 ext. 2704

The qualifications and loan terms for the Emergency Loan are:


Apply for a Loan
 

Small Business Loans (SBA)

Small Businesses that want to apply for the CARES Act Payment Protection Program must have been in business prior to February 15, 2020 and have been a Provident members prior to April 4th, 2020, and your primary business accounts must be with Provident. For more information on the CARES Act PPP please click on the button below.  With the program set to expire, we are no longer accepting new PPP applications at this time.  If the program is extended at a later time, then we will resume accepting new applications.

CARES ACT PPP

 

Emergency Loan

Existing Provident members as of March 16, 2020 may be eligible for an Emergency Loan to those who are directly impacted by the coronavirus. For more information on our Emergency Loan please contact our Consumer Lending department at (800) 632-4600 ext. 2704

Features

  • Loan amount up to $10,000, depending on your monthly gross income, whichever is less
  • Low fixed rate of 5.00% APR
  • 60-day deferment of first payment
  • Flexible terms up to 24 months
  • Funds deposited into your Provident Savings or Checking accounts

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