COVID-19 Hardship Assistance

Important Information Regarding COVID-19

Current as of 03/30/2020

We are actively monitoring the Novel Coronavirus (COVID-19) situation and want to assure you that our first priority at Greater Iowa Credit Union is the health and safety of our employees, clients, and communities. We also recognize that while COVID-19 has impacted all our daily lives and habits, it’s having far-reaching consequences in many areas affecting your mortgage and finances too. Greater Iowa is here to help.

If you’re worried about making your mortgage payments, here’s what you should know:

  • You can make your payment, find information regarding the impact of COVID-19 on your mortgage, and learn how to apply for assistance if you need it.
  • If you can, it’s best to continue making your mortgage payment because you will have to catch up eventually. If there are any expenses you can cut, do so at your discretion. The first priority at this time is the health and safety of your family.
  • Greater Iowa will not adversely credit report your loan(s) for April, May and June.
  • Beginning April 1 and extending for 90 days, GICU will waive Late Charges for all borrowers (April, May and June).

If you expect COVID-19 to impact you for a while, Greater Iowa, in partnership with Investors, is offering an initial relief option of a forbearance, which is a temporary stoppage of your mortgage payments. Once the crisis is over, we would work with you to determine the best course of action when you’re ready to resume payments.

How do I know if I’m eligible for hardship assistance?

Any borrower experiencing a hardship resulting from COVID-19 that impacts your ability to make regular monthly mortgage payments is eligible for assistance, for example:

  • Unemployment
  • Reduction in work hours
  • Illness of a borrower/co-borrower or dependent family member

If you feel you are eligible for the forbearance process, please apply for mortgage assistance here.

     Click here to apply for mortgage assistance     

Check back: This is a fluid situation, with updates being posted on our website at www.gicu.org/covid-19/ for you as we get them. Thank you for your understanding!

GICU representatives are available from 8AM to 5PM Monday - Friday at  800-296.9064.