Need a payoff for your loan?
 

You can receive today's payoff by logging onto Online Banking. On the “Accounts” tab, select “Balances”. Today's payoff amount will be listed next to your balance under your loan accounts. For additional payoff information, visit your closest branch or contact Member Services (M-F 8:30 am – 5:30 pm; Sat. 8:30 am - 12:00 pm) at 800.482.0049.

 
 
 
 
How is interest calculated on my loan?
Your loan is based on simple interest which means when you make your payment, the interest is paid first, and the rest of your payment will go to principle. The interest is based on the daily balance; as the principle amount goes down, so does the interest.
Can I make principal loan payments?

You can make extra payments to your loan at any time if your current monthly payment has been made. This can be done in a variety of ways:

  • Transfer in Online Banking
  • Contact Member Services at 800.482.0049
  • Visit any Enrichment branch
Mail an extra payment to us at PO Box 883, Oak Ridge, TN 37831
 

Payments are applied in the following order: amounts past due, fees, accrued interest then principle.

What if I can't make my loan payment?

We understand there can be extenuating circumstances and hardships. Please contact us and let us know your situation and we will do what we can to help you with your account.

Do you offer debt consolidation loans?

We have several options available for debt consolidation, such as personal loans, home equity lines of credit, or even a first mortgage.

Our loan experts will review your unique situation to help you determine the best option for your needs.

If you would like to discuss options before applying, simply call our loan experts at 800.482.0049.

Do you offer student loans?

For college expenses not covered by scholarships and federal loans, Enrichment has partnered with Sallie Mae to bring loans with great repayment options and competitive rates. Click here, for more information or to apply for a Sallie Mae Student Loan.

How do I set up automatic payments for my loan?

To schedule an automatic transfer from another financial institution to Enrichment, please complete the Authorization for Direct Debit form and return it to your closest branch or mail to PO Box 883, Oak Ridge, TN 37831.

How do I request a skip-a-payment?

Members with loans eligible for Skip can request a skip online or by contacting us at 800.482.0049. Click here for more information regarding skip-a-pays.

How are rates determined?

Interest rates fluctuate based on a variety of factors, including inflation, the pace of economic growth, and Federal Reserve policy. Over time, inflation has the largest influence on the level of interest rates. A modest rate of inflation will almost always lead to low interest rates, while concerns about rising inflation normally cause interest rates to increase. Our nation's central bank, the Federal Reserve, implements policies designed to keep inflation and interest rates relatively low and stable.

Does EFCU offer financial counseling?

Enrichment is partnered with Everfi and KOFE (Knowledge of Financial Education) to provide members with budgeting tools and financial guidance to live a financially secure lifestyle. Through our Financial Wellness Center you have access to many online tools and interactive courses. Through KOFE, you can access webinars and one on one coaching to help you and your family obtain your goals. Members can contact a financial counselor at  KOFE for a free confidential coaching session at (844) 311-2635.

How do I get a copy of my credit report?

To obtain a full copy of your credit report, visit www.annualcreditreport.com

This site provides your credit information once annually for free. You will also have access to view open, closed, and derogatory credit accounts. When you review you’ll want to ensure the report is accurate, all accounts are current, and verify accounts you have authorized to avoid an identity theft situation that would be damaging to your credit.


Check out our Online Financial Education Resources to stay on top of your financial health.