Monday to Friday, 9.00am to 4.30pm
If you are currently finding it difficult to meet the repayments on your loan or are concerned about your future ability to meet the repayments, please act as quickly as you can to let us know your concerns.
We have a responsibility to ensure that all borrowers experiencing financial hardship are treated according to common standards of assistance by lenders.
Assisting Borrowers Facing Financial Hardship
As a community credit union we are committed to assisting members who are facing financial hardship. These are very uncertain times and you can count on us to help you.
Members treated on a case-by-case basis
Members in financial distress are treated on a case by case basis using a range of options. These are outlined below and applied depending on the member's circumstances and how we can best help.
How we can help you
If you have financial concerns, we will support borrowers in the following ways:
Bank Orange will work with borrowers to determine the most appropriate assistance option for each borrower.
Options include:
- in relation to loans, postponing the dates on which payments are due under the contract (with interest to be capitalised into the loan);
- extending the period of the contract and reducing the amount of each payment due under the contract;
- short term reductions in interest rates, or repayments due under the contract;
- offering different banking arrangements that will better suit the member’s needs;
- providing interest-only repayment options on loans;
- and providing fee waivers.
We have systems in place to assist in identifying borrowers who may be experiencing financial hardship. We will ask you a few questions to better understand your situation to see how we can help you.
To request financial assistance for loan repayments, please contact us on (02) 6362 4466 during business hours or send an email to discuss your personal situation.
