To help you, your family and the small businesses in our community, we have been working to add more ways to give you peace of mind during these uncertain times:
If you need help with your monthly loan payment, please reach out to discuss your specific situation at 303-321-4209. We have multiple options that can be tailored to your specific needs.
Most Fees Are Waived.
Most fees were waived for all members beginning in late March 2020, and we have continued to waive those fees. We anticipate waiving fees into the new year for overdrafts, credit card cash advances, Certificate of Deposit (CD) early withdrawals, Reg D withdrawal limits, cashier’s checks, teller checks, money orders, ATMs outside the CO-OP Network and fees when balances in Interest Checking drop lower than minimum. These fee waivers are already in place, and no action is required on your part. Late fees on loan payments will be reinstated beginning in January 2021.
To help members now and in the future—and to make it easier to do business with Westerra—some fees were permanently eliminated on May 1, 2020: fees for cashier’s checks, official checks, temporary checks, returned mail, express delivery, account research/reconciliation, printed copies/account histories, deposits of foreign items, third-party returned deposit items, ATM access card annual fees—and there is no longer a fee for notary service for our shared branch guests. Online Banking external transfers to/from other financial institutions are also now free—including next-day delivery.
Help with Your Mortgage.
If you expect COVID-19 to impact you for a while, you may want to consider an initial relief option of a forbearance, which is a temporary stoppage of your mortgage payments for three months. If you need additional assistance after that time, we will work with you to determine the best options to resume payments. During the months of a forbearance plan, late fees are waived and missed payments are not reported to credit bureaus. The easiest way to start the forbearance process is to go directly to https://loansolutioncenter.com or call our mortgage service department directly at 1-866-657-0139
Emergency Line of Credit or Unsecured Term Loan for Business Members.
If you have a business account at Westerra and need short-term working capital or interest relief, we may be able to assist with a line of credit. If your business does not have collateral available for a loan, ask about an unsecured term loan based upon the cash flow of your business. This new loan is an excellent option for consolidating business debt and short-term financing. Ask about loan amounts from $500 to $50,000. Additional resources are available at sba.gov.
Get Cash or Make Deposits.
To make it easier to access cash, the daily limit for ATM cash withdrawals has been increased to $1,010. You can also deposit cash and checks through our CO-OP Network ATMs and in our branch Night Drop Boxes. Download the Westerra Mobile Banking App and you can deposit checks by taking a picture with your phone!
It is important to us to help our members who find themselves in financial hardship from the impacts of this crisis. Please let us know how we can help you. Contact us at 303-321-4209 or email@example.com to discuss your specific situation.