Search
 

Palisades FCU Offers a Double Up Twist on Skip-A-Payment Program

PEARL RIVER, N.Y. -- Palisades Federal Credit Union invited members to take a load off this summer.

By Lindsey Siegriest | Updated on August 26, 2008

PEARL RIVER, N.Y. — Palisades Federal Credit Union invited members to take a load off this summer.

The $147 million Palisades FCU offered its members a take-the-summer-off loan program. The program allowed members that are in good standing to skip their July and August payments on all loans except first mortgages. While many credit unions offer a program allowing members to skip a payment on their loan charge a processing fee, Palisades charged no fee to its members who decided to take advantage of the program. The only stipulation was that members understand that the loan continues to accumulate interest.

“We noticed that inflation was quickly rising and that unemployment was rising and thought this would be a good way to give back to members,” said Anthony Pili, marketing coordinator at Palisades.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.