Wednesday, 25 June 2014

We called around to our local financial institutions about relief for PRNTA and CUPE members.  The general response was that it is best to go into your credit union or bank to set up an appointment to explore the possibilities. 
We are posting a table with a brief description:


 Financial Relief for Teachers/CUPE in SD 60
Institution

Student Loans
-arrangements can immediately be made to defer payments for 45 days
- it is possible to apply under a hardship program for other help
Toyota
- is offering payment deferment for vehicles





Bank
Contact
Mortgage 
Line-of-Credit
Notes
BMO
250-785-0361 #1, # 3, #0
- you may qualify for a payment deferral  (some conditions include that you live in the house, and it is not a low-rate closed mortgage
- may be available although the conditions are stringent
- make an appointment to apply & to determine if you meet their criteria
CIBC
250-785-8101
- if you meet certain conditions you may qualify to pay only the interest portion
- the local branch has more control over granting
LOC and personal loans
* * many people selected payment protection with their credit cards – you can get Creditor Insurance contact information from the branch
North Peace Savings & Credit Union
250-787-0361

- Mortgage payments can be deferred for 2 months
- long-term contract teachers  (members and potential members)may qualify for a LOC or other borrowing
All of our decisions are made locally.   Come in and see us so we can help you through this period of uncertainty.
RBC
250-787-0681 #0#1
Lynn (reception)
- if you have held your mortgage for 1 year , 1 month’s payment can be ‘skipped’ (will be added to the end of the mortgage)
- L-O-C is a possibility
- check out www.rbc.com for more information
Scotiabank
250-262-5150 (voice activation)
- call the branch to make an appointment to defer payments & extend the life of your mortgage
- call the branch to make an appointment to explore possibilities

TD
250-262-5000   #3
call the branch to make an appointment to defer payments & extend the life of your mortgage – maximum of 1 payment if you pay  monthly or 2 payments if you pay bi-weekly 
- call the branch to make an appointment to explore possibilities for financial relief

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    Regards
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