As the situation surrounding the Coronavirus (COVID-19) continues to unfold, we remain strongly committed to the safety and well-being of our members and employees. We continue to take precautionary measures to reduce the impact of the virus, making operational adjustments, while providing the banking services you need. We are adhering to social distancing guidelines by serving members at our Main office through the drive-up window only. Members with special needs, who cannot be served at the drive-up window, or members needing access to safe deposit boxes, are being accommodated. At our Botany Village branch, we are allowing a maximum of 4 members into the branch at a time. Both locations are working on modified schedules, in effect since March 30, 2020: SEE HOURS HERE.
WE ENCOURAGE YOU TO USE NOVA’S ATM NETWORK, ONLINE & MOBILE BANKING SERVICES, ALL AVAILABLE, 24/7!
NOVA FINANCIAL ASSISTANCE NEWS → Loan payment relief options are available for consumers and businesses, temporarily unable to make Nova UA loan payments. These options will be offered through June 30, 2020.
Business loans: If your business has been temporarily closed or volume reduced as a result of the pandemic, you may qualify for a payment relief loan.
Residential loans: If your job has been eliminated or your work hours reduced as a result of the pandemic, you may qualify for a payment relief loan.
Consumer loans: If your job has been eliminated or your work hours reduced as a result of the pandemic, you may qualify to skip up to 3 months of payments.
OTHER FINANCIAL ASSISTANCE NEWS → On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. The CARES Act provides various forms of financial assistance for both American consumers and businesses struggling as a result of the coronavirus pandemic. As part of this initiative, the Federal government has started sending Economic Impact Payments to millions of Americans who are eligible for the program. If you filed tax returns in 2018 or 2019 and included your NOVA UA FCU routing and account number for payments or refunds, the IRS will use the information to send your payment electronically. You can securely access your account anytime if you are enrolled in Nova’s Online or Mobile Banking. You can review your account activity and check for your Economic Impact Payment. If it has not been credited to your account, you can check the status of your payment on the IRS website, which includes the date it is scheduled to be deposited or mailed. IRS Economic Impact Payments webpage: https://www.irs.gov/coronavirus/economic-impact-payments
OTHER FINANCIAL ASSISTANCE NEWS → On April 9, 2020, NJ Gov. Phil Murphy signed an executive order providing grace periods for insurance premiums for NJ residents, financially impacted by the pandemic. The grace periods are a minimum of 60 days for health and dental insurance policies and 90 days for home, auto, renters and life insurance. If you file a claim during these grace periods, your insurance company is required to cover it, even if you have missed a payment. The executive order also ensures that policyholders are not required to make a lump sum payment on unpaid premiums at the end of the grace period, premiums will be amortized over the remainder of the policy term or up to 12 months.
I thank you for your membership and wish you all the best, as we work through this together.
Val Bogattchouk, CEO