Financial Support Center

As your trusted financial partner, we’re here to support you and your personal finances. Visit frequently to get resources that will help you financially navigate the continuing impact of COVID-19 and our shifting economy.


frequently asked questions

CREDIT

The most important step is to pay your bills by their due date. If you are unable to make a payment, contact your creditors directly. Many creditors are willing to work with their members or customers during times of financial crisis, and can provide alternatives that may lessen any negative impact on your credit. If you are experiencing difficulties making payments to your Desert Financial loan accounts, call (602) 433-7010 to speak with our Credit Assistance team.

No. Eligible members who completed the form to skip their April and May auto loan payments will not see a negative effect from that on their credit report.

Your credit score can be influenced by many factors. During times of hardship, we recommend that you contact individual creditors to see what assistance options they have available. Visit annualcredireport.com to request a free report, or you can sign up for a service such as Equifax Complete™ Premier to do more frequent score checks.

If your credit score has decreased due to financial hardship, there are many ways that you can work to improve your score. First, check your credit report to determine if there are any inaccuracies; if yes, you can work with your creditors and credit reporting agencies to correct the error. If everything is accurate, our blog on loan application rejection offers several tips to boost your score no matter what your situation.

FINANCIAL SAFETY & SECURITY

Yes! Your deposits at Desert Financial are secured by the National Credit Union Administration (NCUA) up to $250,000.

Unlike deposit accounts, investments are not secured by the NCUA and may be affected by fluctuations in the market. We recommend contacting your financial advisor to discuss any potential impact to your investment accounts. You can also contact our Wealth Management team, log in to your Raymond James account online or view a list of advisors with contact info.

Not necessarily. Your financial advisor is the person best equipped to answer questions about your investments. They can help you manage your current investments, as well as develop a new plan tailored to your individual financial situation. We encourage you to call your financial advisor directly or contact our Wealth Management team to discuss your investment accounts.

Scams associated with the virus include texts, emails and voice messages/phone calls claiming to be from a financial institution. As a reminder, Desert Financial will never ask for passwords and other personal information. If you receive a suspicious communication claiming to be from Desert Financial, do not respond. Contact us directly at (602) 433-7000 to verify the sender, or use one of our other fraud reporting options. For more information on scam and fraud awareness and tips to protect yourself, visit DesertFinancial.com/Security.

FINANCIAL HARDSHIP

For assistance with your credit card payments, please call the phone number listed on the back of your credit card.

See our Mortgage Assistance page for information on the assistance programs available for your specific situation. You may also call the Mortgage Assistance Department at (602) 335-5676 for information on the programs available to help you.

If you need our support, please call our Member Experience Center at (602) 433-7000.

Contact your lender directly to see if you are able to get a lower rate or payment. You may also wish to transfer balances to a lower interest card or take advantage of low-interest balance transfer offers. See our available credit card options.

Desert Financial is working hard to make sure our members are taken care of during this uncertain time. To help our members, we are waiving several fees, including pay-by-phone fees and the fees for using Non-Desert-Financial ATMs (Co-Op Network ATM fees are always waived). For questions about other fees, or to discuss options available, please contact us by private message in Online Banking or by phone at (602) 433-7000.

While payday loans with annual interest rates over 36% became illegal in Arizona in 2010, short-term lenders returned with “flex loans” that skirted the law by charging interest plus a variety of fees. These flex loans work as a line of credit, which could potentially be dangerous to those experiencing hardship because you can continue to borrow money as long as you are making payments and haven’t reached your limit. If you are experiencing financial difficulties, consider working with your creditors to potentially lower payments. Another option is our Low-Interest Emergency Loan; call (602) 335-6317 for details or to submit an application.

Repossession is typically a last step that lenders take when payment has not been made for several months or more. If you are experiencing financial hardship, contact each of your lenders directly to see what alternate payment options may be available to you. If you are having difficulty making payments on your Desert Financial loans, call (602) 433-7010 to speak with our Credit Assistance team. We’re here to help!

Members experiencing financial difficulty but still employed may still qualify for some of our assistance programs. If you are experiencing difficulties making payments to your Desert Financial loan accounts, call (602) 433-7010 to speak with our Credit Assistance team. For information on our Low-Interest Emergency Loan, or to complete an application, please call us at (602) 335-6317.

We have several relief programs available for small business owners. For information on loans and other opportunities or to discuss difficulty making your current loan payments, call (602) 433-7000 and ask for a business specialist.

Desert Financial offers a variety of online resources to help members make informed financial decisions; browse our Financial Support Center for articles about debt, budgeting, bouncing back after financial hardship and more. We also have a variety of accounts available to help you manage your money, including savings, money market and IRAs. Open an account online or by calling (602) 433-7058. For information on investment options, contact our Wealth Management team.


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