Personal Loans

You may be eligible to change your loan due date by completing the Due Date Change Request Form.

Eligibility is based on the following factors:

• Your account may not be past due.
• You may not have any unpaid charges.
• You must have made at least one regularly scheduled payment.
• The requested payment due date must be in the same month as the existing payment due date.

Due date changes will not be approved more than once per year.

Note: Changes to the due date may change your loans scheduled payoff date and increase the total interest paid over the loan period.

Please call us at 831.479.6000 to discuss whether debt protection cancellation is an option for you.

If you wish to cancel your coverage and a refund of fees, you must do so within sixty (60) days from the effective date of the debt protection.

Cancellation after sixty (60) days will end coverage, but previously charged fees will not be refunded.

Note: Canceling debt protection will not lower your monthly payment, and the payoff schedule of the loan may accelerate. Once debt protection is cancelled, it cannot be reinstated.

Signature Lines of Credit are billed in arrears and accrue interest each day based on the outstanding loan balance. While you may have paid your principal balance down to zero, there may be accrued un-billed interest from the time your bill was created until the date you paid the balance down. That interest amount, if any, will be billed the following month. 

To pay to zero, call us at 831.479.6000 and request a “paydown.”

It is the policy of Bay Federal to send a written response to all written error resolution notices within 30 days.

Your written notice must:

• State the account number.
• Include the disputed dollar amount.
• Have a description of the suspected error.
• Be mailed to us at:
  

  Bay Federal Credit Union
  Attention: Loan Servicing
  3333 Clares Street
  Capitola, CA 95010

If you are experiencing financial difficulties, you may qualify for temporary assistance through Bay Federal’s Consumer Preservation Program.

To qualify, you must:

• Have made a minimum of 12 payments to the Credit Union on your personal loan.
• Have sufficient income to qualify for relief.

Note: All borrowers and co-borrowers must sign the Consumer Preservation Program Application and submit supporting income and hardship documentation.