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Personal and Business Banking


Financial Wellness and Recovery

What DCU can do for you if you are now or think you may
soon be experiencing a financial setback



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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.

How to contact us

Getting help early is key to keeping even temporary financial problems from turning into major, complex, long-term difficulties. DCU encourages all members to contact us before you feel overwhelmed so that we can best assist you. We have a number of financial wellness and recovery programs available and we are here to help you.

  • By email: Contact Financial Wellness through the Financial Wellness Contact Form.
  • By phone: 508.263.6700 or 800.328.8797 and ask to speak with a Financial Wellness Representative.
  • By mail:
    • Digital Federal Credit Union
      Attn: Financial Wellness
      PO Box 9130
      Marlborough, MA 01752

Please include your name, member number, and a daytime phone number. Let us know what areas specifically concern you whether it be loan payments now, planning for your future, financial counseling, or just extending your direct deposit benefits.

When should you contact us?

DCU encourages you to contact us at the first sign that your financial situation may be changing. Some common reasons to contact us are:

  • Job loss or cutback of hours
  • Death or illness of a family member
  • Divorce
  • A member of your family on Family Medical Leave
  • A spouse called to active duty in the military

Most financial predicaments don't happen overnight. Once you start to feel a bit overwhelmed or start to exhibit any of the below warning signs, it is probably a good time to get some assistance.

A credit problem could be in the future if you answer "yes" to any of the following:

  • Are you usually late with bill payments?
  • If you lost your job, would you be in immediate financial difficulty?
  • Do you receive calls and letters from creditors about overdue bills?
  • Have you withdrawn money from your retirement account to pay current expenses?
  • Do you regularly use credit card cash advances to pay off other creditors?

How to contact us by email

DCU offers many options

Depending on your current situation, DCU can help determine which options are best suited for your needs. Some possibilities include:

Consumer Loans – Auto, and Personal Options

  • Deferment — 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.
  • Re-Age — 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.
  • Other Options — DCU has other financial wellness and recovery programs available. Please contact us.

Mortgage* and Home Equity Options

  • Re-Cast — 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.
  • Refinance — 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.

How to contact us by email

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.

How to contact us by email

Questions and Answers

Following are some common questions we get from members in certain circumstances:

Specific to job loss:

Do my loan payments accelerate?

No, your loan payment schedule remains the same, according to your original loan agreement. If you feel you may need some temporary relief or a permanent extension, contact us now before you feel overwhelmed.

Does DCU have any savings options in which I can temporarily deposit my 401(k) or pension funds, and preserve the tax deferred status?

Yes. You can do a direct rollover to a Traditional IRA. If you are later employed and find that your new employer will accept these funds into their retirement plan, you need only be able to identify the amount that was originally rolled in. Many members find it easier to keep 401(k) or pension funds in a separate Traditional IRA for record-keeping purposes, but this is no longer required.

Will I lose my Plus or Relationship benefits on my DCU Checking Account?

Normally, if you qualified based on direct deposit and it simply stopped, you would lose those benefits. However if you let us know, we will make sure those benefits continue for at least one year. By that time, we hope you'll be direct depositing your net pay from your new employer. This is an automated process, so make sure you let us know.

General Questions:

Will I Lose My DCU Benefits?

No you will not lose any DCU services or benefits when you contact DCU about any financial difficulty. As long as you keep your Savings Account open and continue to maintain your accounts in good standing (by working with DCU), you will have the same accessibility to services such as Online Banking, Mobile Banking, ATMs, and the Easy Touch Telephone Teller System.

Can I discuss a loan modification even if I haven't lost my job?

Yes. DCU understands that many times as with a job loss, along with the emotional impact of an extended illness, a death in the family, or a divorce, there are financial ramifications. There's the possibility that what was once the obligation of two salaries is now dependent on one salary. It's better for all concerned to discuss potential options now before concerns become real problems.

How to contact us by email

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Why doesn't the Financial Wellness form work with Safari 5.1.7 or Firefox 16.0.1?

The following error message appears when I try to fill out the Financial Wellness form. Your browser is unable to perform strong encryption. For your protection, we require 128 bit encryption in order to secure your banking session. Please upgrade your browser to Internet Explorer 5.5+ or Netscape Navigator 4.73+
Asked by: BetterShape21
The Financial Wellness Form is currently incompatible with the versions of Safari and Firefox you are using. If you need Financial Wellness assistance with a DCU Consumer Loan or Line of Credit, please call 800/328-8797 option 1, extension 9729. Representatives are available to assist you Monday through Thursday 8am to 8pm EST, Friday 8am to 5pm, and Saturdays 9am to 3pm.
Answered by: DCU Staff
Date published: 2013-10-23

I want to refinance my car loan. How can I start the process?

Asked by: steph
You may apply for a vehicle loan refinance either by calling us at 800/328-8797 option 3 or by completing the online application from our web site, www.dcu.org , by choosing the Consumer and Visa link below the Get A Loan area on the left.
Answered by: DCU Staff
Date published: 2013-10-23

What if I do not have the best credit, would I still be able to apply for a personal loan?

Asked by: whoopie
Anyone may apply for a loan. Our Loan Officers will let you know your eligibility after reviewing your request.
Answered by: DCU Staff
Date published: 2016-06-25

can you apply for a personal loan if you have went bankrupt?

personal loan for 3,000.00
Asked by: barbie
Yes, you will want to apply to determine your eligibility for a DCU Personal loan. Anyone may apply.
Answered by: DCU Staff
Date published: 2013-10-23

How can DCU help me with my school loan debt?

I am working full time and I am able to keep up with my school loans and now they are on credit bureau I owe over 32,000$ and my credit is down hill I want to know how can DCU help me get back on track.
Asked by: Jdiddy2007
DCU has partnered with BALANCE to provide services to our members that include reviewing your credit report, negotiating with creditors, preventing bankruptcy, money management, bill payment schedules, and advice on how to pay down debt. Balance may be reached by calling 888/456-2227 or online at http://www.balancepro.net .
Answered by: DCU Staff
Date published: 2013-10-23
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How to contact us by email

DCU has a number of resources available for all members no matter what stage you are in your financial situation. Whether you just want a hand in creating a monthly budget, or if you need some relief on loan payments, DCU has the means and resources to provide you with the assistance you need. Some services and programs we provide are:

Financial Education Videos

DCU's Education Center, powered by EVERFI, is a digital financial education program designed to help you better understand and manage your money.

Topics include videos on:

  • Banking Basics
  • Planning and Saving
  • Credit and Borrowing
  • Financial Health

DCU In-house Review

If your financial situation has changed, or if you are having trouble repaying your DCU Consumer Loan(s), let us know. We will assess your current loan situation and, if you are a member in good standing, come up with a solution. Options may be to temporarily reduce your loan payments or rewrite or extend your loan. We'll continue your direct deposit benefits and waive penalties on Savings Certificate withdrawals if needed. Call DCU at 508.263.6700 or 800.328.8797 and ask to speak to a Financial Wellness Representative, or send us an email.

Related Links

  • Payment Protection – Ease your loan payments, protect your family, and safeguard your credit rating
  • Guaranteed Asset Protection – If your car is totaled or stolen, this optional insurance covers the difference between the insurance settlement and the loan balance.
  • DCU Insurance –DCU Insurance offers insurance with the personal service you deserve. So whether you have Homeowners Insurance or need it, DCU Insurance could be the right choice for you.
  • How finance charge are computed –Discover how DCU calculates finances charges on your loan accounts.
  • StreetWise guide to Credit and Credit Management – This section of StreetWise will talk about credit – how it works, how to use it responsibly, how to know if you are having difficulty with credit, and what to do if you are.
  • Other resources – View this list of benefits that DCU offers to every member