Member Assistance Program (MAP)

Everybody Needs a Little Help Sometimes

The Member Assistance Program is exclusively for Alliant members whose household income has been reduced due to an involuntary reduction in pay, involuntary unemployment or natural disaster.

As your financial partner, Alliant Credit Union is committed to supporting you through the various changes in your life. We are pleased to offer our Member Assistance Program (MAP) to those members whose household income has been reduced due to involuntary circumstances that have adversely affected your finances and ability to pay Alliant loans.

Through the MAP program, affected members can reduce loan payments by 30%.

Here’s what you can expect with the Member Assistance Program…

  • Upon submitting your application, you will receive a confirmation that your request was received
  • Within two weeks of receipt of your request, we will send you a loan modification agreement in the mail. Please sign the Agreement and return it to us immediately to complete your request. (Please allow seven business days from receipt of the signed Agreement to process and complete your request.)
  • We will send you an e-mail once your loan modification agreement is complete, notifying you of your new payment amount and the due date
Please note: You should continue to make all required payments until you confirm that your request for payment reduction is complete. Alliant mortgage, home equity and VISA® products are not eligible for MAP.

Frequently Asked Questions

Will my interest rate increase if I elect a payment reduction?
No! Your current loan rate will remain in effect. However, because of the reduced payments, the final maturity of your loan will be longer than originally scheduled.

Does a payment reduction on my loan affect my credit?
No! We will change your scheduled monthly payment to the lower payment. Remember, making your payments on-time by the payment due date will ensure your credit rating remains strong.

If I am repaying my loan on ACH, will the amount change due to the payment reduction?
Yes. The required amount will change if you accept reduced payments. If you have ACH payments currently set-up at another institution, please contact them to change the amount being sent to the credit union. If you set-up the ACH payments through the credit union, please complete and submit an Authorization Agreement for Preauthorized Loan Payment (ACH Debit-EFT).

My spouse and I are both affected by involuntary income reduction. Can we both take advantage of the Member Assistance Program (MAP)?
Yes. You may both take advantage of the MAP, however only one 30% reduction is available per loan.

Am I eligible for the Member Assistance Program if I am currently delinquent on a loan or VISA® credit card with Alliant Credit Union?
No. All loans must be in a current status. Loans will be considered in a current status as long as:

  • They are less than 30 days past the due date
  • Titles for all Alliant loans have been received
  • All collateralized loans have adequate insurance coverage

If you do not meet the above qualifications, we will contact you with the requirements that need to be met in order to qualify for the reduction.

What if I have MEMBER’S CHOICE™ Protection on my loan?
If you have MEMBER’S CHOICE™ Protection on your loan(s), you should file that claim first before any Loan Repayment agreement is granted. MEMBER’S CHOICE™ Protection claims must be filed within 180 days of the incident of unemployment.

How do I calculate the reduced payment?
Please review the following examples:

If you make your payment Monthly

Scheduled Payment X Payment Reduction Percent = Payment Reduction Amount
$300.00 .30 $90.00
         
Scheduled Payment Payment Reduction Amount = New Monthly Payment
$300.00 $90.00 $210.00

If you make your payment Bi-weekly

Scheduled Payment X Payment Frequency
(# paychecks received in a year/ 12 months)
= Monthly Payment
$150.00 26/12 $325.00
         
Monthly Payment X Payment Reduction Percent = Payment Reduction Amount
$325.00 .30 $97.50
         
Monthly Payment Payment Reduction Amount = New Monthly Payment
$325.00 $97.50 $227.50

To calculate your new Bi-weekly payment
New Monthly Payment X Payment Frequency
(# paychecks received in a year/ 12 months)
= New Bi-weekly Payment
$227.50 12/26 $105.00

If you make your payment Semi-monthly

Scheduled Payment X Payment Frequency
(# paychecks received per month)
= Monthly Payment
$150.00 2 $300.00
         
Monthly Payment X Payment Reduction Percent = Payment Reduction Amount
$300.00 .30 $90.00
         
Monthly Payment Payment Reduction Amount = New Monthly Payment
$300.00 $90.00 $210.00

To calculate your new semi-monthly payment
New Monthly Payment / Payment Frequency
(# paychecks received per month)
= New Semi-monthly Payment
$210.00 2 $105.00

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