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Emergency Relief Loan

In an effort to support Americans nationwide, the government will be issuing stimulus checks to help offset the financial struggle our communities have felt in the wake of the COVID-19 pandemic. While these funds will be a refreshing benefit to most, many may need access to emergency funds before these deposits will arrive. For current members in need of faster access to funds we have a unique solution ready to help. 

Need Access to Funds Sooner Than Later? 

Sometimes life throws us more than we can carry on our own. We all need a helping hand now and then to push us forward. Our members can rest assured that we are here to help overcome any obstacle. We've been crafting solutions for members for over 65 years and together, we will overcome these struggles too. 
Emergency Relief Loan Program: 
Now available for existing members, access up to 1 month's pay with no collateral and pay no interest for terms up to 5 months. 
 
Benefits Include: 
  • Easy Access To The Funds You Need When You Need It Most
  • No Payment For Up To 45 Days
  • 0% APR For Terms Up To 5 Months
  • No Collateral Required
  • Online/Mobile Banking Payment Options
 
Program Terms: 
Members must be in good standing with no recent delinquencies and positive account balances. The maximum repayment term is 5 months with qualified credit. The maximum loan amount will be equal to one month's pay. A most recent 30-day pay stub or direct deposit will be required for verification. Applicants must be current members. Regular underwriting guidelines do apply. 
 
If you are in need, apply online today and save your money for where you need it most. 
 

NEED ADVICE ON HOW TO HANDLE YOUR EMERGENCY FUNDS OR STIMULUS CHECK?

Lending options and stimulus checks will be a major relief for many but budgeting and managing those emergency funds is key to sustained financial success. Here are some of our tips for maintaining your financial wellness and maximizing your relief funds. 
 
SET A GOAL AND YOUR BUDGET
An honest budget helps you evaluate your needs, set limits on unnecessary spending, and allocate your finances responsibly so your priorities are always in line. Setting a goal is key to an effective budget. If you are able, keep saving for your unique goal or investigate your budget for opportunities to continue investing in your success. 
 
PAY OFF DEBT AND CUT EXPENSES
Some expenses may already be reduced due to changes in daily habits with social distancing in place, however, now may be a great time to see what items are draining your budget unnecessarily such as seldom used subscriptions or high interest debts. Free up your budget by paying down or consolidating high interest cards and cancel services or subscriptions you rarely take advantage of so your money can go where you need it most. 
 
BUILD YOUR SAVINGS OR CRAFT AN EMERGENCY FUND
Now more than ever we see how necessary it is to maintain a well prepared safety net. Don't wait for the next emergency to start planning for your future. Did you know you are not on your own when it comes to saving for the unexpected? We have savings account options to help you start building your emergency fund as well as options for those with existing reserves in place to ensure your money is always working to benefit you, even when you aren't using it. 
 
SUPPORT OUR LOCAL BUSINESSES
While we distance in proximity to one another we are encouraged to appreciate our local businesses and the unique impact they make in our neighborhoods. Support the local businesses that make our communities the best that Colorado has to offer and know that we will make it through this difficult time if we stick together. 

Connect with us to learn more about how you can best manage your budget or emergency funds by emailing us at inquire@ontapcu.org or give us a call at 303.279.6414.
 
For the most recent updates on tax relief, economic impact payments, and eligibility, please visit the IRS website below. 
 
 

UNSURE OF HOW MUCH YOU MAY RECEIVE? 

With so much information all around us seemingly 24/7, you may be wondering how to know exactly how much you can expect from stimulus funds. 
 
Check out this calculator to help determine your economic impact payment so you can best manage your funds.