Eagle River Credit Union
Eagle River Credit Union
Call Toll Free at 1-877-377-3728

* = REQUIRED FIELDS

Simply fill out this form
at least five business days before your loan
payment is due.



Have everyone who signed the loan,
fill in this form and
we'll take care of the rest!


First Name*
Last Name*
Email*
Account # * #'s only

Defer my/our payment for: (choose one only)

  (December 2017) *

(January 2017) *


By signing below and upon the approval by
Eagle River Credit Union Limited, the
undersigned agree that the terms and
conditions on the reverse hereof shall apply to the
extension of the Account.


Borrower
Co-Signor
Guarantor (s)
 

*subject to normal credit requirements - loans must meet the outlined criteria to be approved for a skipped payment.


Terms and Conditions to the Skip a Loan Payment Program


"Extension" means the extension of the Loan pursuant to the terms of this agreement.


"Guarantor" means any guarantor of the Loan.


"Loan" means the loan account stated on the first page hereof.


"You" means each borrower or co-borrower to the Loan.


"We" or "us" means the Eagle River Credit Union, Limited.


If you are approved by us to skip a loan payment, the following terms and conditions shall apply to the Loan and the Loan shall be amended and changed accordingly:


  1. The original or extended maturity date of the Loan will be extended by one month.
  2. Interest on the unpaid balance of the Loan will accrue during the deferral period.
  3. We will advise you by letter of the revised monthly payment of principal and interest, if applicable. You agree to commence repayment of the Loan immediately following the one month extension period in accordance with all the terms and conditions of the Loan.
  4. You agree to pay a fee of $0.00 to us in connection with this Extension.
  5. Any creditor insurance previously purchased through us to cover the Loan will expire as specified on the original enrolment form. Any additional time required to retire the Loan beyond the original maturity will not be covered by such insurance.
  6. The Guarantor, if any, acknowledges and agrees to the terms of this loan repayment extension agreement.
  7. The Loan, as amended and changed by the terms of this Extension, shall remain in full force and effect.



This consent acts as a signature and states that all names on this form has agreed to the conditions of this form. This consent and authorization is provided on the condition that the Credit Union is in compliance with any applicable legislation, including the Personal Information Protection and Electronic Documents Act (Canada). I/We understand that I/we may obtain more information regarding the Credit Union's commitment to protecting my/our privacy including my/our right to limit or withdraw my/our consent and authorization respecting my/our Personal Information by reviewing the Credit Union's Privacy Code, which will be provided to me/us at my/our request. I/We hereby certify that all statements made in this credit application are true and complete and submitted for the purpose of obtaining credit.