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Personal and Business Banking

Financial Hardship

How DCU can help if you have an unexpected loss of income

  • When to Seek Help
  • How DCU Can Help
  • Contact Us

How to know when to seek help

DCU encourages you to contact Financial Wellness at the first sign that your financial situation may be getting difficult.

Some warning signs include:

  • Job loss or cutback of hours
  • Death or illness of a family member
  • Divorce
  • A member of your family is on Family Medical Leave
  • A spouse is called to active duty in the military
  • You have become consistently late with bill payments
  • Losing your job would put you in immediate financial difficulty
  • You receive calls and letters from creditors about overdue bills
  • You have withdrawn money from your retirement account to pay current expenses
  • You regularly use credit card cash advances to pay off other creditors

How DCU can help

Is a sudden loss of income making it very difficult for you to make your loan payments? Tell us as soon as you can so we can develop options to help you through this challenging time.

Our Collections Department is staffed by DCU people, trained in "The DCU Way." They are eager to help you with fairness, sensitivity, and creativity. They have plenty of experience helping members work through financial difficulties. They have developed programs appropriate for almost every kind of financial concern and type of loan.

It is not unusual for people facing financial challenges to hesitate contacting their lender. That's unfortunate because the earlier we hear from you, especially if you are not yet late on your payments, the more options we have to help you.

Our aim is to help you through these tough times and get you back on the path toward your financial goals.

Consumer Loans – Auto, and Personal


This program allows you to defer one monthly payment and apply it to the end of your loan.

Interest-only Payments

This program is designed for members that are in a temporary hardship that will be resolved within 3-6 months or have already fallen behind on their DCU payments and need help to catch up. The number of months that are reduced to interest only payments will be applied to the end of the loan. For example, if you are approved for 3 months of Interest Only Payments, the term of your loan will be extended by 3 months.

Work Out Loan

This program is designed for members whose financial situation has changed permanently (such as a divorce, death, injury, etc.). A Work Out Loan may allow you to change the original terms of your loan agreement and fit you into a payment that is affordable. An extensive review of your DCU account, monthly income, and monthly expenses will take place to see if this option is right for you.


This program is designed for members that are already delinquent on their loan more than 180 days. A Re-Age allows a member to bring the loan completely current by adding the delinquent payments to the end of the loan, extending the maturity date by the number of payments skipped.

Mortgage* and Home Equity


This program allows a member experiencing a hardship the ability to be brought current by Re-Casting the loan. This allows the past due loan amount, any unpaid interest, and unpaid late fees, to be added to the current principal balance owed. The loan is then recalculated to compute a new monthly payment based on the remaining term of the loan.


This program allows a member experiencing a hardship the ability to be brought current by Refinancing the loan. A Refinance is paying off an existing mortgage or home equity loan to structure a new loan secured by the same property.

Rewrite (Amending Terms of the Loan)

This program allows a member the ability to restructure the mortgage note or home equity loan by lowering the interest rate and monthly payment. The loan would then be recalculated to compute a new monthly payment.

Special Forbearance (for Mortgages)

This program may allow a member a temporary reduction of payments or a reduction in the interest rate. Based on the member's financial situation, DCU may allow a modification on the original terms of the mortgage note to reduce the monthly payment to a more affordable level. The reduction of the interest rate and payments could be from 6 months to 1 year depending on the member's situation. After the Forbearance period has ended, payments are reverted back to the original terms.

Loan Modification (for Home Equity Lines of Credit)

This program allows a member to temporarily reduce their payments on a Home Equity Line of Credit (HELOC) for a specified period of time. If you would like more information on the programs listed above, please contact our Loss Mitigation Specialist at 800.328.8797 extension 9757.

*All of the Mortgage Programs listed require an application, financial statements, and approval. Some exceptions and limitations apply.

BALANCE Financial Fitness Program

We've contracted with BALANCE – experts in debt and budget management. DCU Members can get free unbiased financial advice and assistance through them. They provide many valuable services and can help you with:

  • Reviewing your credit report
  • Negotiating with creditors and coming up with a debt management plan
  • Preventing bankruptcy
  • Money management including help balancing your check book, buying a home, goal setting, etc.
  • Bill payment schedules and advice on the quickest way to pay down debt

Using the services of BALANCE is free to DCU Members. Call DCU at 508.263.6700 or 800.328.8797 and ask to speak to a Financial Wellness Representative or email us to find out more about the program and determine if it is right for you. BALANCE can be reached at 888.456.2227. Counselors are available Monday through Thursday, 8am to 11pm (EST), Friday 8am to 8pm and Saturday from 11am to 8pm.

Contact Us Today

Let us help you get back on track. We can only help you if we know about your situation.

For help with Consumer Loans, Lines of Credit, Mortgages, or Home Equities – call 508.263.6700 or 800.328.8797.

Financial Wellness Contact Form

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Visit Contact Us for other options to reach DCU.