Loans – Payments

We have several different options for you to choose from, including an automatic transfer from Extra Credit Union or another financial institution, in person, through eBanking, at an ATM, by phone, or payments (check or money order) can be mailed to: Extra Credit Union, 6611 Chicago Road, Warren, MI 48092.

Simply print and complete our Electronic Funds Transfer (EFT) Debit Agreement form through this link and bring it in.

This information will be disclosed to you at your loan closing and documented on your loan paperwork. You will then also be able to find it online when you log into eBanking under Account Info. Once there, use the pull down menu to locate your loan.

The only loan type that may charge an early pay off fee is the Home Equity Line of Credit (HELOC). A penalty fee of $200 will be charged if the loan is closed in less than two years or the minimum draw of $5,000 is not taken at closing.

Yes, it will. However, you cannot make a “principal only payment.” Daily interest will always be paid when we receive a payment from you.

Payments are expected to be paid by the due date. For questions about your loan payment, call our Payment Solutions Department at (586) 276-3000 ext. 3102.

Late fees will be assessed if payment is not received within 15 calendar days from the due date. The late fee will be assessed on the 16th day past due. Refer to your loan disclosures or our Fee Schedule.

As a courtesy, we will contact you to remind you of your loan payment if we have not received payment from you after the due date.

Typically, your loan payment will not change; however, a few factors may change the payment of your loan, depending on your loan type. For example, a flexLINE payment will change depending on the balance of your line of credit. Collateral Protection Insurance may be added to a secured loan (like an auto loan) if the collateral backing the loan is not fully insured by you; mortgage loan payments can change if the rate selected is variable or if an escrow account has been set up to cover changing insurance or tax costs. If your loan payment changes, please feel free to call us immediately to discuss the change.

We can help you. Call us at (586) 276-3000.

After you’ve had your loan with us for a year, set up a meeting with an Extra Credit Union representative. If your credit score has improved, we may adjust the interest rate for you one time for the life of that loan.