Montana 1st CU Blog

IMPORTANT NOTICE TO OUR MEMBERS WITH LOANS

If you are enjoying a lending relationship with Montana 1st Credit Union you should be aware of a change that is coming this month.

Due to new Federal Regulations, the actual due date of your loan is being updated. You do not need to sign any additional forms or contact the Credit Union for this change to take affect. The loan disclosure you signed when you first obtained your loan will suffice as authority to change your due date.

For the Credit Union to remain in compliance with the new regulations, the actual due date(s) will be changed to the 28th of each month. A reminder of your payment due will be included on your monthly statement.

For you, there will be no change in how your payments are made or applied. If your loan(s) are on payroll deduction (weekly, bi-weekly, semi-monthly or monthly), your payments will continue to be applied as always. If you make your loan payment on a specific date of the month, you may continue to do so.

Making the change in this manner will (1) cause the least amount of disruption to you, our member, and (2) will help the Credit Union to control expenses associated with changes caused by the regulations, so that we may continue to offer competitive loan and savings rates.

Answers to some frequently asked questions about this change are available on our website: Montana 1st Credit Union You may also pick up a paper copy in any of our branches or request one by mail by calling the Credit Union at (406) 728-1790.