Your Credit Union and COVID-19
Last updated: 04/15/2021
As we continue to face the challenges of ongoing pandemic, we’re here to serve and support you. American Airlines Federal Credit Union is ready to help even as we continue taking additional steps to protect the health, safety and well-being of our members, employees and communities.
Consumer & Business Loan Deferrals
You can submit your consumer loan deferral request by logging in to online banking and clicking on one of the rotating Loan Payment Deferral banners. In mobile, click the “more” button. Until the federal national emergency status is lifted, you’ll be able to have three deferrals in a rolling 12-month period.* Contact a loan officer for other options if you need additional help to lower your payments. See disclosure on the deferral request form for circumstances in which you or your loans may be ineligible for deferral.
If you need help with your business loan, please contact our Business Services Department at (800) 533-0035, Ext. 4123.
* Interest will continue to accrue resulting in additional interest paid on the loan(s) and your loan maturity date will be extended. Loan payments that you’ve set up through other financial institutions via ACH transfer can’t be stopped automatically. Please contact your other financial institution(s) to temporarily stop payments from being sent.
Real Estate Loan Deferrals
Loans secured by real estate (including first mortgages** and home equity loans) require a signature to amend a mortgage’s term and maturity date. Begin your request by completing this secure online form with an explanation as to why you need relief and we will contact you with details. Until the federal national emergency status is lifted, you can submit up to two deferral requests in a rolling 12-month period. Members making requests by the 25th of the month will have their next two month’s payments deferred. If you need help beyond the two deferral requests, please contact the Mortgage Servicing department for options at (800) 533-0035, Ext.4210.
**We encourage you to save for the escrow portion of your payment for the months that your payment is deferred. Doing so will avoid an escrow shortage when taxes and insurance are due.
Credit Card Deferrals
You may submit a request to defer a payment on credit cards by completing this secure online form. Until the federal national emergency status is lifted, you will be able to request three payment deferrals in a rolling 12-month period. We’ll contact you regarding the status of your request. Contact a loan officer for other options if you need additional help. Some members may be excluded due to meeting the maximum number of deferrals in a year or other extenuating circumstances. This would include, for example, members whose accounts are not in good standing, whose loans are not paid current or whose credit cards are not open to new transactions (i.e. closed). Please allow two business days for processing before your due date in order to avoid a late fee.
Student Loan Refinance Deferrals
Student loans are serviced by University Account Services (UAS). Please log into your UAS loan account, send a message or call (800) 723-2210 to speak with a servicing agent about a Hardship Forbearance.
Share Certificate Withdrawal
We will waive the first early withdrawal penalty for a partial or full withdrawal with an explanation why you need relief. Please contact us if this is the best option for you.
Remember: Make certain that we have the latest contact information for you, including email and phone number. This is important now more than ever as your loan deferral can’t be processed if your email doesn’t match the one we have on file. To update your information, log into online banking and select “Settings” in the left-hand menu. Then select “My Profile” and check that your information is correct in all three options.
While we are continuing to provide full financial services, to better align with CDC recommendations regarding limiting the number of people who should congregate in a common area, our branches are open but might have modified hours. Check the Locations page on our website for current hours. Our Member Advocacy Center is available 7 a.m.-7 p.m. Monday-Friday and 7 a.m.-5 p.m. Central Time Saturday to serve you by phone for all your needs for lending and accounts.
In order to better protect you and our team members, we’re encouraging members to continue to use our remote, self-service tools when possible.
These options include:
Use our online banking channel for secure access to your account 24/7. Apply for loans online or chat with a Member Advocacy Center representative.
If you haven’t signed up for our mobile and online banking services, you can do so by clicking here: Sign up for Mobile and Online Banking
By Mobile Services:
Our mobile apps for smartphones and tablets allow you to access your account, find shared branches and ATMs and much more.
- Download from the app store links:†
- Download Credit Union mobile app for iOS
- Download Credit Union mobile app for Android.
- We offer our mobile deposit feature that allows you to make deposits by using our mobile app on your smartphone. Simply log into online banking and select “Make a Deposit” in the left-hand menu.
- Once you select the account you’re depositing to, enter the amount (up to $1,500 max per day) and then “Capture Image.” Once you photograph the front and back of the check, just click “Submit Deposit” and you’re done!
- Check(s) must be endorsed as follows: “For Mobile Deposit Only at AAFCU.”
You can also take advantage of our digital wallet options to make secure monetary transactions without having to make use of touch screens.
Find out more about each digital wallet below:
Our automated phone system gives you access to your account any time by calling (800) 533-0035, or you can talk with someone in our Member Advocacy Center. You can also call your local branch directly.
Economic Impact Payments
The U.S. Treasury Department announced the distribution of Economic Impact Payments. Members with account details on file with the IRS because of their tax filings will receive payment via direct deposit. For more information on these payments, please refer to the resources available from the IRS.
Don’t forget that cyber criminals and scammers love to use adverse situations like the current COVID-19 crisis to try and take advantage of you. Beware of emails impersonating legitimate health organizations trying to trick you into revealing sensitive information such as user names, passwords and other personal information. Check out our phone scams blog, "Fight Back on Phone Scammers," for more details on what to watch out for. If you’re looking for information on the coronavirus, go directly to sources you know and trust and if you want to help, make sure to donate to well-known organizations directly through their websites.
Sound and Strong
It’s important to know that despite the many uncertainties that started with COVID-19, American Airlines Credit Union is well capitalized, financially strong and dependably sound. We have more than 313,000 members, $8.9 billion in assets and 85 years of experience. The Credit Union is regulated by the National Credit Union Administration (NCUA) with deposits insured by the National Credit Union Share Insurance Fund (NCUSIF). For more information on share insurance, please visit mycreditunion.gov/share-insurance-estimator make use of their share insurance calculator.
Our Changing Environment
Remember, American Airlines Credit Union remains at your side through times both prosperous and challenging, and we’re certain that we will weather this period together.
†Message and data rates may apply. Check with your mobile provider.
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