Sonoma Federal Credit Union is making available several programs in order to assist our existing member-owners who have lost their homes or businesses as a result of the recent firestorm. Existing members of the credit union who lost homes or businesses should contact us directly in order for us to assist you immediately.
All Sonoma County residents who lost homes during the recent firestorm are welcome to apply for the following relief loan programs offered by Sonoma Federal Credit Union. Applicants do not need to be credit union members in order to apply for the following special loan programs:
Re-building Financing Assistance
Short and long term, re-construction assistance loans are being made available on a first-come basis. These loans offer effected home-owners broad financial resources and flexibility to re-build, upgrade, expand, or repair their home as necessary. These loans may be used to finance complete re-construction, or in coordination with most other finance options. This program is only available to those who lost homes in Sonoma County as a direct result of fire in the month of October, 2017.
- Maximum loan amount - $500,000 per property
- Maximum loan term – 30 years
- No pre-payment penalty
- No application fee
- No credit report fee
- No points
- Loan decisions within 1 business day
- Re-building funds available within 1 week of final approval
Temporary Alternative Housing Assistance
Special financing is being made available for all habitable recreational vehicles and travel trailers. Those who need to purchase an RV or fifth wheel to use as temporary housing during reconstruction are being offered preferential loan terms, designed to make this an affordable temporary solution until homes are rebuilt. This program is only available to those who lost homes in Sonoma County as a direct result of fire in the month of October, 2017.
- Maximum loan amount - $100,000
- Maximum vehicle age – WAIVED
- Initial interest rate – 2.5%
- Maximum loan term – 20 years
- No pre-payment penalty
Use our Secure Loan Application. You may also contact us directly at (707) 527-6216.
1 year CD – 1.49% / 1.50% APY*
All funds from this special CD will be used to support Sonoma County residents effected by fire.
- Minimum deposit - $10,000
- Maximum per household - $250,000
- Credit Union membership will be required at time of opening
- Offer for Sonoma County residents only
- This credit union is federally insured by the National Credit Union Administration
- Limited time CD offering, may expire without notice
- *APY = Annual percentage yield
Special loan programs include new purchase home loans, reconstruction to replace homes, and funds loaned for temporary housing. All Sonoma County residents effected by the fires are eligible to apply.