DFCU Blog

DFCU is Here for NYS DOCCS Officers

At Dannemora Federal Credit Union, we wear blue for a reason. We honor and appreciate the hard work of those in the prison system, especially our correctional officers who are facing uncertainty right now. We understand the financial challenges these times may bring, and as your credit union, we want you to know that we are here to support you.

DFCU was founded at Dannemora State Correctional Hospital, and our deep roots in the correctional community drive our commitment to helping our members—inside and out—during difficult times.

PHASE ONE:

Loan Skip-Payment Offer – No Fee

To provide immediate relief, DFCU is offering an initial two-month Loan Skip Payment with no fee for impacted correction officers.

How It Works:

• No Fee – We are waiving the usual Skip-A-Pay fee.
• Eligible Loans – Applies to most consumer loans. (Excludes mortgages, home equity loans, share/CD secured loans, and credit cards.)
• Simple Application – Contact DFCU to get started!

PHASE TWO:

Mortgage Loan Forbearance Available

To support correction officers with a Mortgage Loans with DFCU we have set up a Forbearance program for those in need of temporary relief.

How It Works:

• Forbearance Available – Eligible members may defer up to ninety (90) days of mortgage or home loan payments.
• Forbearance Fee – A one-time fee for this program due title and attorney fees. Speak with a Mortgage Officer for more details.
• Application Process – Contact DFCU to review your eligibility and begin the process.

PHASE THREE:

Emergency Loan Program Available

We understand that the recent strike has placed a financial burden on many of our members. To provide support, we have launched Phase 3: Emergency Loan Program, specifically designed to assist Corrections staff who have been directly impacted by lost wages.

Program Details:

• Low-Interest Rate: determined by credit score
• Loan Term: Up to 36 months but determined by credit score
• 90-Day Payment Deferral
• Loan Amount: Up to $3,000 (unsecured loan), with tiered loan levels based on base pay rate and credit score
• Limited Underwriting: Some stipulations and documentation will be required.
• Loans to be funded beginning March 19th(*)

  (*)Other conditions may apply. Contact DFCU Loan Officers for all details.

This program offers a fast and accessible financial relief option to help you navigate this challenging time.

How to Apply:

To apply for the Phase 3 Emergency Loan, visit our Online Application, or call us at 518-825-0323.

->Don’t wait— Apply today to secure your emergency assistance.

If you have any questions, please don’t hesitate to reach out. We’re here to support you.

We understand this is a difficult time, and we want to provide support where it’s needed most. If you need loan skips, mortgage relief or emergancy loan, reach out to us today to discuss your options.

• • Call us at 518-825-0323
  • Visit your nearest DFCU branch

DFCU is constantly evaluating the needs of our members—stay tuned for additional programs, phases, and financial support initiatives in the coming weeks.

We’re here for you—just like we always have been.