Financial Assistance Program

At MIT Federal Credit Union, we care about our members. And we understand that from time to time members may find themselves in challenging financial situations, including:

• Layoff, corporate/company down sizing, or cutback of hours
• Work stoppage due to strike or temporary facility closing
• Death or illness of a family member
• Divorce
• Family member on Family Medical Leave
• Spouse called to military active duty

Our Financial Assistance Program was established because the financial success of our members is important to us. Therefore, we encourage getting help early to keep MITFCU financial issues from turning into major, complex, long-term difficulties. We can help determine the best way to provide assistance. Some possibilities include:

• Temporary reduction in loan payments
• Loan re-write or extension
• Penalty-free certificate withdrawals
• Consolidation loans
• Financial counseling
• Spouse called to military active duty

To be considered for the Financial Assistance Program, fax a written request to 617.252.1585 or mail it to: Financial Assistance Program, 700 Technology Square, Cambridge, MA 02139-3586

Please include information regarding the reason why you are requesting assistance (the hardship) and the time frame for which assistance is needed. Additional documentation may be requested at the discretion of credit union management.

For additional information, please contact Consumer Loan Manager Kerry Perry at 617.253.7396.