How to make payments

Making your loan payment is crucial for your financial success! We’ve made it simple!

Set up your payroll to directly deposit into your PAFCU checking or savings account. We will automatically pull the payment each time you get paid. Contact us to set up automatic payments from your paycheck!

If you would like your payment to be drafted from your PAFCU checking or savings account on a certain day(s) of the month, contact us about setting up automatic transfers.

Make payments on demand, 24/7 with our mobile app! If you have the funds in your PAFCU account, you can make an internal transfer to make a loan payment using the app or home banking. Just like moving funds between accounts, you can transfer to your loan or credit card. If you have any questions about internal electronic transfers, please contact us.

In addition to setting up automatic bill payments for all of your bills, you can set it up to pay your PAFCU loan payment too! Contact us for help setting up Bill Pay.

If you would like us to automatically draft a payment from a different financial institution, contact us to set it up. Please have your account and routing number, account type (checking or savings) and name of the financial institution.

Once you log in to home banking, you have the option to make a payment with a debit or credit card from another financial institution. However, there is a $7.95 fee for each payment. This method should be used in emergencies only to avoid unnecessary fees. Email or message us for more details.

PAFCU also offers over the phone payments using a debit or credit card from another financial institution. However, there is a $9.95 fee for each payment. This method should be used in emergencies only to avoid unnecessary fees. Contact an MSA for more details.

Of course, you can always make a loan payment with cash or a check at one of our local branches, or at a shared branch. If you are not able to make it to a branch during business hours, you can use a night drop box at any of our branches (excluding West Broad). Please place your payment in an envelope with your account number, name, and phone number and indicate which loan you would like to make a payment on. The transaction will be processed for you on the next business day.

You can also mail in your payment to PO BOX 3180 Petersburg, VA 23805. Please be sure to reference the account number, loan number, and your contact information.

How do I apply for a loan?

For consumer loans and credit cards you can apply online or call us at 804-748-3081 and press option 2 to set up an appointment with one of our Loan Experts. You can also email us at loans@peoplesadvfcu.org

Do you pull credit when I apply for a loan?

Yes, we pull credit for every loan application. This is a “no judgment” process. We want to make sure we are giving you real time accurate advice based on your situation. Everyone’s financial situation is different and we want to help you be financially successful!

If I apply online, what will happen next?

A Loan Expert will contact you to complete the loan application process within 24 hours on a day the credit union is opened (exceptions on loan applications submitted after 3pm EST). If you apply on a day we are closed, you will be contacted the following business day.

How does the loan process work after I'm approved?

Your Loan Expert will forward your loan paperwork to our Loan Processing Team.

Your Loan Processor will contact you to either schedule your closing or let you know of any additional documentation we need from you prior to scheduling a loan closing. You can email or fax any documents into the Loan Processing Department. If those options don't work for you, you can drop your documents off at any PAFCU branch and they will make sure to get them into the Loan Processing Department.

Loan Processing Contact Information
loanprocessing@peoplesadvfcu.org
Fax number: 804-733-6081.

What documents will I need to gather before the loan closing?

Here are some general guidelines for documents needed to close a loan. The credit union reserves the right to ask for additional documentation not listed below. When your loan is sent to processing, you will be contacted with documents needed specifically for your loan.

  • Personal Loans/ Debt Consolidation Loans (Unsecured):
    • Credit card statements showing payoff amounts, payoff addresses, and full account numbers
  • Auto Purchase from a Dealer:
    • Buyer’s Order or Bill of Sale from your dealership
    • Copy of your new insurance showing your deductibles for comprehensive and collision insurance and Peoples Advantage Federal Credit Union listed as lienholder
  • Auto Purchase from a Private Seller:
    • Copy of the title and seller’s registration
    • Copy of seller’s state ID
    • 15 day payoff on any outstanding loans against the collateral
    • Copy of your new insurance showing your deductibles for comprehensive and collision insurance and Peoples Advantage Federal Credit Union listed as lienholder
  • Refinance from another institution:
    • 15 Day Payoff Letter from previous finance company
    • Copy of the vehicle registration
    • Copy of your new insurance showing your deductibles for comprehensive and collision insurance and Peoples Advantage Federal Credit Union listed as lienholder
  • Personal Loan Using your Vehicle as Collateral:
    • Copy of your title (original will be needed at closing)
    • Copy of vehicle registration
    • Copy of your new insurance showing your deductibles for comprehensive and collision insurance and Peoples Advantage Federal Credit Union listed as lienholder

* If you are self-employed we may need two years’ business & personal tax returns.

Does PAFCU offer payment protection products that can be added to protect me in the event that: my vehicle breaks down; I total the vehicle in an accident; I go out on disability leave from work; or I pass away?

Yes, PAFCU offers Debt Protection at great rates. An unexpected job loss, death or disability could prevent you from making loan payments. Debt Protection can help by canceling all or part of the your protected loan payment or balance, should a protected life event occur. With flexible program options and pricing, we can offer you a product to help protect yourself against the unexpected.

Please be sure to ask your Loan Expert about the benefits of these valuable products!