SAFE's Coronavirus (COVID-19) Response
We've got you covered, and we're taking action to help.
During the COVID-19 crisis, we feel it’s not enough for us to just say, “We’re here for you.” So we’re taking action to safeguard both your physical and ﬁnancial health. Throughout South Carolina, we’ve temporarily closed all SAFE branch lobbies. Bank transactions are limited to drive-throughs and ATMs. And to borrow a phrase from the overworked heroes of the healthcare industry, we’ve developed a kind of ‘triage’ for your ﬁnancial well-being.
Let’s get to it. Below you’ll ﬁnd a quick overview of each ﬁnancial-health opportunity. Simply click on the ones that interest you, and we’ll tell you more.
- Accessing your accounts
- Upgraded online and mobile banking services
- SAFE's policy regarding your Economic Impact Payment Deposit
- Earlier access to your direct deposits
- Penalties waived on select deposit accounts
- Skip Pay for many consumer loans
- Financial hardship relief options
- Auto-loan reﬁnancing options
- Emergency Assistance Loan
- Provisions under the CARES Act – Easier access to your Individual Retirement Account (IRA) deposits
- Provisions under the CARES Act – What you need to know about your Economic Impact Payment
- Beware of scammers
- We are happy to let you know that SAFE's branch lobbies are open again. We also are doing our part to keep you safe when you manage your accounts. That means your lobby visits will be a little different:
- Check in when you arrive and we'll call when it's your turn.
- Social Distancing inside the branch.
- Limited branch occupancy as recommended by local health authorities.
- Spacing tellers at every other station.
- For your safety -- and the safety of those around you -- we encourage you to wear your mask. To aid identification, you may be asked to pull your mask down briefly so we can see your face.
- Lobbies, PTMs and drive-through lanes now are functioning under their normal operating hours.
- NOTE: Since the COVID-19 virus is still a risk, we encourage you to make deposits and withdrawals at our drive-through lanes.
Upgraded online and mobile banking services
The latest banking technology right at your ﬁngertips could not have come at a better time. With streamlined security, improved bill pay, and new features that are ideal in this ‘stay-at-home’ world in which we ﬁnd ourselves, the new SAFE online and mobile banking services enable you to:
- Access your accounts and manage money 24 hours a day via ﬁngerprint, facial recognition or password
- Import information from your other bank and credit union online accounts
- Reach your ﬁnancial goals with money-management tools
- Make payments on SAFE Federal Credit Union loans
- Transfer funds between accounts
- Deposit checks remotely
- Pay bills using Bill Pay
- Open additional deposit accounts and apply for loan accounts
- Stop payment on a check
Please note: you can reach us by phone Monday through Friday from 7:00 AM to 7:00 PM and on Saturday from 9:00 AM to 1:00 PM at 800-763-8600, ext. 2375. Our secure chat feature is available within Online Banking during normal business hours.
SAFE's policy regarding YOUR economic impact payment deposit
For help and information, call our Member Service Center at 800-763-8600, ext. 2375.
SAFE is now making direct deposits available up to a full day sooner.
When your direct deposits arrive early, we will post them early to your SAFE accounts. For example, if you're expecting a deposit on Friday, you now may see it posted to your account on Thursday. From salary to Social Security, we're making direct deposits accessible sooner than ever and right when you need them.
- Regular Savings Accounts
- Money Circus Accounts
- Y-Accounts (Savings)
- U29 Savings Accounts
If you’re an eligible SAFE member, you may be able to skip a payment on your qualifying loan(s)*.
To do so, simply contact our Member Service Center at 800-763-8600, ext. 2375. Or click on the button to download and complete the Skip Pay Request Form.
* This offer does not apply to real estate loans, credit cards, or lines of credit. Terms, conditions, and limitations apply.
We understand you may be facing financial hardship during this time, and we have options designed to help, such as deferring loan payments.
Especially now, it’s important to let us know about possible problems in advance. Don’t let your loan go delinquent before reaching out because our ability to help may be limited at that point. And, we do want to help in any way we can.
You can fill out the Loan Deferral Request Form and return it by mail or email. You also can give our Member Service Center a call at 800-763-8600, ext. 2375 to request a loan deferral.
AUTO LOAN REFINANCING OPTIONS
If you have an existing car loan with another credit union or bank, we may help your financial health via refinancing*. For qualified borrowers, our refinancing program includes:
No payments for 90 days*
With any luck, COVID-19 will be a distant memory before you make the first payment.
Reduced Interest Rates
SAFE wants to reduce your payments so we’re offering auto loan terms with some of the area’s lowest interest rates.
To get started, apply directly anytime 24/7 from your computer, laptop, tablet, or smartphone. Just click on the button to access our online application. You also can contact our Loan Service Center at 800-763-8600, ext. 2308.
*Promotion does not apply to refinancing of existing loans with SAFE. Must qualify. Terms and conditions apply.
SAFE is offering an “Emergency Assistance Loan” to assist our members during the COVID-19 pandemic. These small amount loans are designed to assist members with unexpected living expenses as a result of COVID-19. Contact our Loan Service Center for more information or begin the application process now by using the button below.
On March 27, 2020, Congress passed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Act contains many provisions that may help with your retirement and health savings arrangements. Those provisions include:
- For those age 70.5 and older, the member may suspend their Required Minimum Distribution (RMD) for 2020.
- Members may roll their 2020 RMD back into their IRA if done within 60 days of disbursement.
- Elimination of the 10% Early Withdrawal Tax on IRA’s for qualified COVID-19 individuals.
- Income tax on distributions may be paid over a three-year period.
Consult your tax advisor for details on these and other aspects of the CARES Act and how its personal finance provisions may affect you.
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, most U.S. residents will receive an Economic Impact Payment. The automatic payments now are being distributed to individuals who filed their tax returns electronically and opted for direct deposit of their refund.
To see if you qualify – and the amount you may receive – use the following button that will take you directly to the Internal Revenue Service’s Economic Impact Payment Information Center. The site also includes an easy way to check on the status of your payment as well as the official answers to your most pressing questions.
Speed up delivery of your Economic Impact Payment if the IRS does not have your direct deposit information.
The IRS now has a special Get My Payment application to let them know where to send your payment by direct deposit. By opting for direct deposit, you may be able to get your payment fast instead of waiting weeks for a paper check. And, if you did not file a 2018 or 2019 federal income tax return because your income was below $12,200 ($24,400 for married couples) or were not required to file for other reasons, the IRS can still help.
Beware of scammers trying to get your personal information or your COVID-19 Economic Impact Payment!
Scammers are trying to take advantage of the fear and confusion generated by the CONVID-19 pandemic. That means you’ll want to be even more alert. Remember, the IRS will not call and ask you to verify your payment details. Do not give out your bank account, debit account, or PayPal account information - even if someone claims it is necessary to get your economic impact payment. Beware of this scam.
For more on how to avoid being a victim of COVID-19 scams, take a moment to review the latest information from the IRS. It will be time well spent.
Actions speak louder
The SAFE Federal Credit Union family remains committed to providing you with superior service with a focus on safety. This pandemic will end one day. Life will return to normal.
Until then and beyond, your well-being is our top priority. We have taken measures to help reduce the Coronavirus threat and protect your physical health. And as you’ve seen above, we’ve also taken action to help you stay financially healthy as COVID-19 runs its course.
We hope our actions will make a positive difference in your life. SAFE Federal Credit Union will continue to closely monitor the Coronavirus (COVID-19) outbreak and will provide regular updates to our website. If you would like additional information about the Coronavirus, please visit the Center for Disease Control website.