Honor Financial Relief Package Offered To Members
If you or your family are experiencing financial hardship because of the impact of the current health situation, we’re here and ready to help with financial relief solutions to fit your situation. If none of the solutions below fit your needs, please contact us at 800.442.2800 so our team can assist you.
Personal/Auto Loan Skip-A-Payment*
We’re waiving the application fee on our entire Skip-a-Payment program. Eligible loans include: auto, motorcycle, jet ski, boat, RV, ATVs, snowmobiles and personal loans.
In addition to consumer loans, home equity lines of credit are now also eligible for Skip-A-Payment at no additional charge.
Credit Card Skip-A-Payment*
To accommodate our members, select and select reward credit cards are also now eligible for Skip-A-Payment at no cost.
0% Credit Card Balance Transfer
For a limited time, when you transfer the balance of a credit card from another financial institution you pay No Interest Until 2021! ^^
90 Days No Payment**
Refinance a consumer loan held at another financial institution, or refinance an existing Honor loan for cash out and pay nothing for 90 days.
Auto Rate Relief
Refinance an existing auto loan held at another financial institution and we’ll beat your current rate by 0.25%^ without extending the loan term AND enjoy no payments for 90 days.**
We’re rolling out a personal loan special of up to $3,000 with a fixed rate of 7.99% APR and max term of 18 months. This loan also qualifies for the 90 days no payments offer.***
Mortgage & Home Equity Relief
To help our affected members, if your mortgage, or fixed rate home equity is through Honor, you may be eligible for payment relief solutions.
Business Payment Relief
We know that businesses of nearly every size are financially impacted right now. Our business loans may be eligible for payment relief solutions, simply give us a call.
Temporary Fees Changes
Overdraft transfer fee ($10)¹ & Early withdrawal fee on certificates² are waived. Courtesy Pay fee is reduced to $19 per item (check, ACH, or in-person)³
*By completing a Skip-A-Payment you are requesting Honor Credit Union to advance the loan due date equal to one month’s payment. You understand that the current balance of the loan is extended by the amount of the payment skipped and that interest will continue to accrue on your loan balance throughout the deferred payment period, which may further extend the term of your loan. If there is more than one borrower on a loan, only one borrower is required to authorize a Skip-A-Payment request.
**Three-month Deferment Offer: Interest will accrue during 90-day deferment period. First payment must be made beginning in the 4th month, on the due date disclosed in the loan agreement. Certain restrictions apply. Subject to credit approval. Limited time offer. Insured By NCUA.
***$3,000 maximum loan amount. All approved loans will receive fixed rate of 7.99% APR. Monthly payment on $2,000 loan at 7.99% APR for 18-month term would be $118.27. Subject to credit approval. Limited time offer. Insured By NCUA.
¹Transfers from other Honor deposit accounts to checking accounts.
²Early withdrawal penalties on certificates w/max of $5,000 withdrawal per 30 days. IRA rules may still apply. Consult tax advisor for advice.
³Must opt-in for one time debit and ATM transactions
^Honor will match the term remaining on applicant’s current auto loan and beat current interest rate by 0.25% with a special floor of 2.99% APR. Any current Honor Credit Union auto loan, not eligible. Verification of rate required. No minimum loan amount required. Cash out option eligible, but remaining term may not change. Limited-time offer. Subject to credit approval.
^^0%APR promo rate applies to balance transfers of $500 or more to an Honor Credit Union Credit Card from a non-Honor Credit Union credit card. Purchases and cash advances excluded. Rate is valid until 3/31/21, after which the introductory period ends, the standard purchase APR applies. Standard variable APR: 8.49% to 25.00%, based on your creditworthiness and other factors. The annual percentage rate (APR) will vary with the market based on Prime Rate. Business Mastercard does not qualify for promotion. New and current cardholders eligible. Credit card approval depends on creditworthiness and other qualifications. Rates, terms and conditions are subject to change without notice. Limited time offer. Insured by NCUA.