Flood disaster assistance

A banner image of a construction worker working on a wall; the text reads Flood Relief Loans, from 0.00% apr

Our hearts go out to all the communities affected by the recent catastrophic flooding in mid-Michigan.

We know that many DCECU members were affected by the flooding in a variety of ways. And in this difficult moment, we are – as always – committed to responding to the financial needs of our members. We’re here to help you in any way we can.

For those impacted by the flooding, we have a dedicated team waiting for your call at 800.835.7794 ext. 4688 to help you explore a range of financial assistance options. These include Skip-A-Pay options on consumer loans, mortgage loan deferments, credit card limit increases and more. Let us help you. Call today.

For those whose needs are more sizeable, we’ve introduced a pair of Flood Relief Loan options. Details on these new Personal Loans can be found below.

Flood Relief Loans

If your home was damaged by the recent flooding and you’re facing flood-related expenses not covered by insurance, we’re here to assist in your recovery efforts by offering no-interest and low-interest Flood Relief Loans1 2 for a limited time.

  • The 0.00% APR3 Flood Relief Loan is for loan amounts $10,000 and under, with a term of up to 48 months.
  • The 2.99% APR Flood Relief Loan is for loan amounts above $10,000, with a term of up to 72 months.
    • Flood Relief Loan Q&A

      • Who can apply?

        Flood Relief Loan eligibility is limited to existing DCECU members, with at least six months of membership, whose homes sustained damage during the May 2020 flooding.

      • How do I demonstrate that my home was damaged by the flood?

        We ask that Flood Relief Loan applicants provide documentation of the flood damage sustained. This most likely would be either an estimation from your insurance company of the current repairs needed, a FEMA report of flood damage or an insurance report of flood damage.

      • How much can I borrow?

        We are allowing up to two Flood Relief Loans per household – one loan at each rate – with a maximum total of $50,000 per household.1

        Example: If you need $50,000 in relief funds, you could obtain two loans: The first $10,000 at 0.00% APR and the remaining $40,000 at 2.99% APR, for a total of $50,000.

        1. Contact DCECU for details. 

      • How can I use the money?

        Flood Relief Loan funds are to be used for flood-related cleanup, repair or temporary shelter expenses not covered by insurance.

      • How much will my monthly loan payment be?

        Here are a couple of payment examples:

        • 0.00% APR Flood Relief Loan: Borrow $10,000 at 0.00% APR with 48 monthly (4-year term) principal and interest payments of approximately $208.33.
        • 2.99% APR Flood Relief Loan: Borrow $40,000 at 2.99% APR with 72 monthly (6-year term) principal and interest payments of approximately $607.57.
      • How do I apply?

        You can apply for a Flood Relief Loan – which is considered a Personal Loan – by clicking the “Apply Now” button below and selecting to apply for a Personal Loan. Be sure to select “Emergency” as your primary reason for applying. Alternatively, you may call us at 800.835.7794 ext. 4688 and tell the representative you’d like to apply for a Flood Relief Loan, and we’ll help you apply by phone.

Apply Now

  1. Loans subject to approval based on creditworthiness of applicants. Other limitations may apply. ↩︎

  2. DCECU Flood Relief Loans cannot be combined with existing DCECU loans. ↩︎

  3. APR = annual percentage rate. ↩︎