In our continuing efforts to improve member service, we are making changes in the processing of your monthly loan payments for your Consumer or Home Equity loans.
These changes affect members with Automobile, Personal, Secured, Motorcycle, Recreational Vehicle, and fixed-rate Home Equity loans. They do not apply to Visa, Residential First Mortgages or Home Equity Lines of Credit.
New Payment Billing Address
A new payment billing address will be displayed on your monthly loan notice as well as on the return envelope included with your loan notice. Starting February 1, 2017, please send the specified loan payments to:
American Eagle Financial Credit Union
P.O. Box 321
Brattleboro, VT 05302-0321
If you use an electronic bill payment service to make the monthly payment, you will need to update the payment address listed above with your bill pay provider.
Extra Payment Amount Applied to Principal Balance
Provided that your loan is current, payments received in excess of your contractual payment will be automatically applied to your principal balance. This will help you pay your loan balance off more quickly.
For example, if your monthly payment is $200 and you pay $250, we will apply $200 to satisfy your contractual payment and the additional $50 will be applied toward lowering your principal balance.
If you have any questions, please visit your local branch or call the Member Contact Center at 860.568.2020 or 800.842.0145.