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Financial Hardship

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MYCU are committed to helping you (subject to your agreement) with any financial obligations.

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What is Financial Hardship?

Financial difficulty can mean something different for everyone. However, the following is a good guide if you have a loan / credit facility with us.

  • you have lost your job, or you have experienced a material adverse change in your employment or business operational;
  • you have an unexpected illness;
  • as a result of a relationship breakdown
  • you are behind in your loan / credit card repayments; or
  • you think you might be unable to make your repayments in the future due to some event

We want to assist you as soon as possible

MYCU urges anyone experiencing financial hardship to talk to their lender/s as soon as practicable. MYCU is here to offer compassionate, constructive help.

Whatever the case, MYCU can offer you financial hardship assistance to help protect your interest, in particular avoiding bankruptcy or the accumulation of excessive debt.

Can anyone use this service?

At MYCU all of our members are able to use the financial hardship assistance service in times of financial difficulty. We are committed to assisting and supporting our members facing financial hardship.

To do this, we will accept your application for Financial Hardship status, review it, and discuss with you options which may assist you in meeting your repayments.

MYCU has an effective relief package in place that allows maximum flexibility for members suffering financial hardship by allowing them grace from the stress of having to find money to service their loans/credit cards.

How do I seek assistance?

If you are concerned about your ability to meet your loan or credit facility repayments to My Credit Union, we encourage you to contact us as soon as possible. We are here to assist you with these situations and will quickly put in place the best possible assistance measures to help you manage your financial obligations with us.

For further information on Financial Hardship Assistance call 1300 655 116, email info@mycu.com.au or drop into one of branches.

The Financial Hardship Assistance service is available for you to call between 9:00am and 5:00pm (AEST) Monday to Friday.

 

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