Holiday Skip a Payment
…An adjustment to the Holiday Skip A Payment Program…
As the holidays approach quickly, Jemez Valley Credit Union will only offer the holiday skip program to certain loan types for the months of November, December or January. Real Estate loans will no longer be eligible. This is due to negative amortization. On large loan balances when a payment is skipped or a due date is advanced the interest continues to accrue daily. Therefore when the member applies a payment to their loan, the payment must first be applied to the accrued interest. This may take a few payments in which the member will once again apply the agreed upon amount to the principal balance. We can make life a lot less complicated for you around the holidays without having to skip your payments. You want to know how? Open a Christmas Club account. This account type allows you to transfer a specific amount of money into the account monthly. Each November the funds will be disbursed to either your savings or checking account. This can be your extra money for all those GIFTS!!! It’s just that easy!!! If you should have questions please contact Tina or Cody for further details.
Auto Loan Special!!!
JVCU is now offering auto rates as low as 4.50% APR, for 72 months on a new vehicle purchase. JVCU also has a special rate for used vehicles. Rates are as low as 5.05% APR, for 60 months on used autos!!! Come in and get a preapproval today!!! That new car is waiting for you… This special is for a limited time and special parameters do apply.
