You do not have to be a member of TVFCU to apply, but you do need to be eligible for membership. You qualify for membership with Tennessee Valley Federal Credit Union if you live, work, worship, volunteer, or attend school within our 17-county community. You will become a member upon receiving your loan, and there is no fee for membership.

Yes. You can pay off both a new and used vehicle loan at any time with no prepayment penalty.

Through refinancing, you can potentially get a better interest rate or extend your loan term, which would lower your monthly payment. Additionally, refinancing may help you reduce the total amount of interest paid over the life of the loan.

The Skip-A-Pay program gives qualified members the opportunity to skip up to two monthly loan payments on eligible loans during a 12-month period. Then the skipped payments are added to the end of your loan term.

You can request a Skip-A-Pay anytime day or night inside YOUR$ Digital Banking.

If you do not qualify for a skip, but are having a difficult time making payments, please fill out this form to request further payment assistance.

Personal loans, auto loans, motorcycle loans, boat loans and RV loans are all eligible, given there have been six months of consecutive on-time payments.

Real estate loans, home equity loans, POP/BuyLine of credit loans, credit cards, FAST Cash, share secured loans, share certificate secured loans and commercial/business loans are not eligible.

To be eligible, your loan must have received six months of consecutive payments and be in good standing. Good standing simply means that your loans must be less than 30 days past due.

Yes, there is a nominal, nonrefundable fee of $50 per Skip-A-Pay request per loan.

The skipped payment will be added to the end of your loan, extending the loan term, and interest will continue to accrue during skipped months.

If you have automatic payments from a TVFCU account, you will need to “stop” the ACH for the month then restart it. Please ask a financial services consultant for more information.

Bill Pay is different than automatic (ACH) payments. If you use TVFCU’s Bill Pay or Bill Pay from any financial institution, you’ll need to log into Bill Pay to stop and restart the payment yourself. However, don’t forget to turn it back on after your skip!

As an added-benefit to members, TVFCU offers Skip-A-Pay twice a year. Members who meet all of the conditions may skip any eligible loan twice during the year.

Yes, members can skip at any time as long as they have six consecutive monthly payments.

TVFCU requires members to carry comprehensive and collision auto insurance, homeowner’s insurance, or flood insurance coverage protecting the credit union’s interest for the full term of the loan.  When you obtain a loan, you are obligated to notify us of your coverage.

We have not received proof of insurance coverage on your loan, or you have provided proof of coverage but the coverage does not meet the minimum requirements for coverage (for example, for auto insurance we require a deductible of $1,000 or less and that TVFCU is listed as lienholder). In accordance with the security agreement, the credit union obtained insurance to protect the credit union’s interest in the collateral.  The cost of that insurance is added to the balance of your loan, which increases your monthly payment.

Please provide proof of your insurance by uploading your policy to www.myinsuranceinfo.com.  A reference number is not required to submit your proof of insurance, but if you have one please provide it. We will verify the insurance documents to ensure it meets the minimum requirements set forth in the security agreement and that the effective date matches the missing insurance period. If the insurance is deemed to meet all requirements and dates associated with purchased policy then a refund for the cost that was assessed to your loan will be refunded.

The insurance we have purchased covers the collateral for your loan only. However, state law may require different insurance, and you will likely find a less expensive option if you shop for insurance yourself.  We recommend you do buy your own insurance and show us proof of coverage.  If you do, we can remove any unearned premium from the insurance we have purchased and your payment will be adjusted accordingly.

Call our Collections Department at 423-634-3550 to let them know. We recommend you pay what you can today.  You will be delinquent the additional amount, but you have 10 days before a late fee is incurred, and 30 days before it affects your credit report.

We attempt to notify members of the need for Proof of Coverage in the following ways:

• Multiple letters and emails requesting proof of coverage are sent prior to placement of insurance on your loan.  If insurance is placed upon not receiving proof of coverage, a subsequent notification informing you of the insurance that was added to your balance is sent.
• The addition of the insurance to your loan balance is reflected on your statement in the month the insurance is added to your loan.

Our Insurance Services Team is ready to help with your proof of insurance! You can reach them by calling: 1-800-653-8812 and let them know you want to provide Proof of Insurance.