Loan Assistance Request

Home / Borrowing / Loan Assistance Request

At NY TEAM Federal Credit Union, we understand that our members may face difficult times. That’s why we offer a Hardship Program to provide assistance when needed. We aim to help you if you’re struggling with paying bills or experiencing a significant life event affecting your income. Our priority is to get you back on your feet and moving forward. Communication is vital for a successful financial relationship. If we are aware of your situation, we can help you. At our Credit Union, we pride ourselves on being there for our members. Please complete our Hardship Form, and one of our Collections Officers will contact you to discuss our options and create a plan to help you.

Our loans come with the option of Life or/and Disability Insurance. You can inquire about coverage from one of our helpful Loan Officers. This is just one of the safety measures we provide to assist our members during unforeseen events.

Request a Hardship

You can conveniently complete our hardship form online using Docusign or Print it out our form and submit at one of our branches.

Loan Insurance

If you’re looking for more information about our life and/or disability loan insurance, or any other type of loan insurance that can protect you from unforeseen events, we can help. Let us know what you need and we’ll provide you with all the details you need.

Contact one of our Collections Officers.

Would you like to explore your options with our collection offers? Feel free to give us a call at (516) 822-1070, option 4, or send us an email at Our team of helpful representatives are ready to assist you.

What qualifies as a hardship and what documentation is needed?

During this difficult time, we want to assist you in the best way possible. We understand that hardships can be both short-term and long-term difficulties in repaying your debts to us. Our aim is to work with you to identify the most suitable solution for your individual situation.

The first step is to identify what qualifies as a hardship. A hardship may result from a reduction in household income, such as job loss, reduction of work hours, illness, or death of a contributing individual in the household. It may also result from an unexpected expense, such as car or household repair or medical bills. However, college tuition and seasonal income are not considered hardships.

To begin the process, please provide a Hardship Request Form explaining your hardship, when you believe your situation will improve, your actions to improve your financial situation, and the credit union account(s) you need assistance with. Please also provide your best contact number(s) and the best time to reach you. We will respond within 48 business hours. Please do not stop paying your debts with us while you apply.

You may fill this form online through docusign or email it to us at

We may also request the following documents from you: proof of hardship, two recent and consecutive pay stubs from all individuals responsible for the loan if currently employed, household budget form (income/expense), W2s from all individuals responsible for the loan, the previous two years’ income tax return (form 1040), and a summary of all accounts outside of our institution, investment properties, and any judgments or liens against your property.

Please note that submitting this information does not guarantee approval. If approved for the hardship/workout program, you will be ineligible for any future lending with the credit union until the accounts under the hardship program have been satisfied.