Financial resources during COVID-19.
Sound is here to help support members and our community while we transition into new routines related to coronavirus. The following resources are available if you’ve been financially impacted.
Member Assistance Program, Personal Loan Special
Quick access to cash with a low interest rate and affordable payment.
- Loan amounts between: $500 – $3,000
- 8.00% APR
- Terms between 10 – 40 months
- No payment for 90 days*
- $50 minimum payment
Loan Payment Deferral Program
Free up cash to pay unexpected expenses
If you’re feeling financial pressure due to the coronavirus pandemic, deferring a loan payment may help ease some pressure.
Defer up to three payments and use the cash to pay unexpected bills or help bridge gaps in the household budget.
Auto, Credit Card, Personal Loan Payment Deferrals
By deferring a qualified loan payment on your auto, credit card, personal loan or line of credit, you can use the funds as you need during these uncertain times.
Complete the form below to get started.
In response to the extraordinary challenges of the coronavirus, Sound is offering loan payment deferrals on qualified Home Equity Loans.
To participate in this program, you need a MEO (Member Exclusive Offer) Code.
- By Email If you already received a Home Equity MEO code by email, click the button to the right to enter your MEO code and get started.
- Request a MEO Code by clicking this button and completing the form.
Requesting a loan payment deferral only takes a few minutes and is processed the next business day giving you quick financial relief during this difficult time.
First Mortgage Forbearance Request
Sound first mortgage loans are serviced through Cenlar, the nation’s leading loan servicing provider.
Cenlar offers mortgage assistance, including forbearance, for borrowers who are experiencing hardships as a result of the Coronavirus. Visit cenlar.com/covid-19 for complete mortgage payment options available during this time.
To request a forbearance, please login to your mortgage account with Cenlar, review, complete and submit the form.
IRA Changes for Tax Year 2020
- Required Minimum Distributions age raised to 72
- Traditional IRA contributions can be made at any age
- Required Minimum Distributions waived in 2020
- Qualified disaster distributions up to $100,000 with waived early-withdrawal penalty
More tools and resources during COVID-19
Loan Comparison Tool
Consolidate debt so monthly obligations are easier to manage.
Increase Your Credit Limit
Increase the limit on your Sound credit card or unsecured line to expand liquidity.
Student Loans Through Student Choice
Student Choice, Sound’s Student Loan administrator, has created a COVID 19 Forbearance Program to help borrowers and co-borrowers through this pandemic.