The program designed to ease the financial burden that our members may be experiencing because of the coronavirus (COVID-19).
Effective March 27, 2020, VyStar will automatically defer loan payments for 60 days on all eligible* consumer loans and credit cards.
A loan deferment gives members the ability to skip predetermined monthly payments in order to have additional financial flexibility. Your current due date will be advanced two months. Finance charges will continue to accrue, and the maturity date of your loan(s), as applicable, will be extended.
Please note: Members who have payments set up on automatic transfer through Internet & Mobile Banking will need to suspend the transfer for payments or they will be processed as usual. Additionally, credit card payments set up on Easy Pay will continue to process as scheduled unless you submit a cancellation form. This can be done through the Credit Card Easy Pay enrollment form in Internet Banking under the settings tab.
Finance charges will continue to accrue, and the maturity date of your loan(s), if applicable, will be extended. However, if you prefer to continue making your consumer loan payments as usual rather than receive loan relief, you can do so by paying as you normally would.
*Loans that are not eligible for deferment include certificate secured loans and any loans or credit cards currently in an active bankruptcy status.
Please read below for additional details about the program.