CP Federal to Advance Due Dates to June for Member & Business Loans
(March 26,2020 9:12 PM) CP Federal Credit Union has announced members who have a loan will not be required to make a payment until their June due date. In a statement to members, CP Federal Credit Union said, “As we navigate the uncharted territory of COVID-19 and monitor its impact on our members, we at CP Federal are working non-stop to provide support and relief where we can as we work to be exceptional stewards of all interests entrusted to our care. Effective immediately, all CPFCU members who have a loan that is in good standing will not be required to make a loan payment until their June due date.” CPFCU will automatically advance loan due dates to June for all member loan types listed below. Auto, boat, R.V., motorcycle, motorsports, other collateral loans, fixed payment personal loans, credit card loans, and line of credit loans Mortgage loans owned by CPFCU* Fixed rate home equity loans Home equity line of credit loans The statement noted these conditions: “Please note, this extension will result in additional interest over the life of your loan if no payments are made during this time. Due to this, if you have the ability to make…

