A Message To Our Members

In the face of natural disasters or public emergencies, OceanAir Federal Credit Union stands by our members.

To support those affected by the Camarillo Mountain Fire, we’ve compiled a list of relief resources, including emergency loans, to help you through this challenging period.

RELIEF RESOURCE OPTIONS FOR OUR MEMBERS

• Emergency Loan
  • Up to $2,500, 1-Year term, 0% Interest.
  • Must be a member prior to November 4, 2024.
  • Offer ends November 30, 2024.
  • Member must live in fire-affected area.
  • Proof of income and residency is required.
• Skip-A-Pay
  • All accounts with OceanAir Federal Credit Union must be in good standing.
  • Qualifying loans are Signature, Auto, RV, Boat, or Motorcycle.
    • One (1) Skip-a-Pay per calendar year for vehicle loans.
    • Up to two (2) Skip-a-Pay per calendar year for signature loans.
  • No fee
• Term Share Certificate Early Withdrawal
  • No fee for early withdrawal

The OceanAir team is here for you. We are flexible and committed to working with our members. If you have any concerns or unique situations, please don’t hesitate to call us and discuss how we can assist you.

Please call our member support team at 805.988.2151 or visit your local OceanAir branch.

Fire Relief Terms and Conditions: 

Offer valid 11/07/2024- 11/30/2024 

*APR= Annual Percentage Rate 

Must be a member of OceanAir Federal Credit Union and account must be in good standing. To be eligible for these offers, residency must be in a fire-affected area. Proof of income and residency is required. Programs, rate, terms, and conditions subject to change without notice. Other restrictions may apply. 

Call us at 805.988.2151 to apply or visit your local OceanAir branch.     

Emergency Loan Payment Example: A $2,500 fire relief emergency loan financed at 0.00% APR over a 12-month term will have monthly payments of $209.00. All loans are subject to credit qualifications and approval. Approval amounts may vary, and each membership is eligible for one loan.      

Skip-A-Pay: Eligible loans include Signature, Auto, RV, Boat, or Motorcycle. All payment deferral requests are subject to approval and are limited to one (1) Skip-a-Pay per calendar year for vehicle loans and up to two (2) Skip-a-Pay per calendar year for signature loans. Consecutive Skip-a-Pay deferrals are not allowed. Deferral fee is waived. 

(1) Finance charges will continue to accrue at the rate specified in your original loan agreement; (2) Your loan will continue to accrue interest, automatically extending the loan term; (3) You must resume your regularly scheduled monthly payment in the month following the deferred payment; (4) The first payment after your skipped payment(s) will include any interest accrued during the deferment period; (5) Any automatic transfer generated by OceanAir will be suspended for the Skip-a-Pay month(s). If you have automatic transfers from other institutions, you must notify them to stop the ACH transfer. 

For Members with Guaranteed Asset Protection (GAP) or Other Credit Insurance: Claim coverage does not extend to deferred payments, nor will coverage extend beyond the original maturity date. Monthly premiums for Credit Life/Disability will still be added to the loan during the skipped month, if applicable. Please refer to your original insurance contract for coverage details. 

OceanAir Federal Credit Union reserves the right to change or discontinue the Skip-a-Pay service at any time. All other provisions of the Loan Agreement, except those changed by this Agreement, shall remain in full force and effect.  

Term Share Certificate Early Withdrawal: Early withdrawals from a Term Share Certificate will decrease earnings, but no fee will be charged for the early withdrawal.