COVID-19 Relief Program FAQs

Why are you only offering a three-month loan deferral program, while other financial institutions are offering six-month deferral programs? We can’t speak to options available from other financial service providers, but we can say that our three-month deferral applies to all types of term loans and mortgages, and for all types of members, including Commercial, Agriculture, Small Business and Retail.

There are no questions asked in order to qualify, and we won’t ask you to prove that you have COVID-19 or have been out of work because of the virus. We trust and empathize with members who are affected by COVID-19 and/or the corresponding economic challenges.

We will certainly consider extending payment deferrals for up to 6 months, on a case by case basis. Click here to contact us directly.

Will interest be waived or suspended?

The interest is not waived and will be deferred with the payment.

How can I get in touch??

We can’t speak to options available from other financial service providers, but we can say that our three-month deferral applies to all types of term loans and mortgages, and almost all of our members can benefit from it, including Commercial, Agriculture, Small Business and Retail.

 

There are no questions asked in order to qualify, and we won’t ask you to prove that you have COVID-19 or have been out of work because of the virus. We trust and empathize with members who are affected by COVID-19 and/or the corresponding economic challenges.

 

We will certainly consider extending payment deferrals for up to 6 months, on a case by case basis. Click here to contact us directly.

What type of loans and/or mortgages are eligible?

All types of term loans and mortgages (Commercial, Agriculture, Small Business and Retail – Including Cash Crunch Loans) are eligible.

Please note there are exceptions:

  • Optimum Dealer loans are not
What is the maximum period of time I can defer my payment?

Members are eligible for this program for up to three (3) months. We will also certainly consider extending payment deferrals for up to six (6) months, on a case by case basis.

WI'm facing hardship due to COVID-19 and/or economic fallout but do not have financing with Mountain View Financial - what can I do?

Our COVID-19 Member Relief Program is offered as a payment relief for our members who have current, outstanding credit with Mountain View Financial. We’re happy to discuss options with you. You can call your nearest branch, the Contact Centre, or email us. Click here for contact details for your specific region.

Does everyone qualify for the member relief program?

There are no questions asked in order to qualify, and we won’t ask you to prove that you have COVID-19 or have been out of work because of the virus. We trust and empathize with members who are affected by COVID-19 and/or the corresponding economic challenges.

Are there any penalties associated with the program?

There are no penalties or fees associated with the program.

Will the program affect my credit rating?

No. The intent of the program is to provide assistance to our members during this difficult time and with deferring the payment the loans do not report as in arrears.

Will my payment amounts change to cover the deferred payments?

With the deferments on consumer term loans the amortization period has been extended by the number of months of deferment. Mortgages the interest is added to the principal balance and extended over the remaining amortization of the mortgage.