In the aftermath of Hurricane Michael, misconceptions and misinformation are being disseminated. One of those credit unions are experiencing is that members are being told that according to FEMA, they get a three-month deferment on loan payments due to the natural disaster.

In fact, each credit union can establish its own stance on how to handle such situations. Many will consider a case-by-case basis to determine the best solution for individual members. Please update your members that  no such mandatory deferment policy actually exists.