Helping our customers who are America's servicemembers

Servicemembers Civil Relief Act

Supporting our Military through the Servicemembers Civil Relief Act (SCRA)

If you are an active member of the United States military, you and your dependents may be eligible for benefits and protections offered by the federal Servicemembers Civil Relief Act (SCRA) for both consumer and business loans.

People's United Bank supports our military by providing you with information regarding the SCRA and the benefits it offers. The SCRA allows those on active duty in the United States Military to devote their full attention to service by easing some of their financial obligations and, in certain cases, suspending the enforcement of civil liabilities.

Some of the benefits and protections People's United Bank provides through the SCRA include:

• Interest Rate Limits
  • While you are on active duty, lenders generally cannot impose a rate of interest exceeding 6% on debts incurred prior to active duty.
  • The 6% rate is in effect for your entire active duty service and for mortgage loans, for one year thereafter.
  • If your interest is higher than 6%, your payments will be reduced to reflect the lower interest rate.
• Protection from Foreclosure
  • The SCRA generally prevents lenders from foreclosing (absent a court order) on eligible active duty servicemembers during their period of military service and the 12 months thereafter. To learn more about this benefit, please contact us.
• Protection from Repossession
  • While on active duty, you are protected from repossession unless a court issues an order allowing the repossession to take place. To learn more about this benefit, please contact us.

SCRA Eligibility

You or your dependents may be eligible for benefits if you are:

• An active duty member of the United States Army, Navy, Air Force, Marine Corps, or Coast Guard, including members of the National Guard.
• On active service as a Commissioned Officer of the Public Health Service and the National Oceanic and Atmospheric Administration.

To learn more about the benefits and protections the SCRA offers, determine your eligibility or request assistance, please contact us at Loan Account Servicing 1-800-525-1006 or write to us at the address below.

To qualify for SCRA Interest Rate Protections:

Please submit a copy of your military orders or other appropriate indicator of military service along with a written request for relief to:

People's United Bank
Attn: Loan Servicing
P.O. Box 820
Burlington, VT
05402-0820

You may submit your request at any time after receiving your military orders, up to 180 days after leaving active duty.

Although you are not required to alert lenders of your military status to receive foreclosure and repossession protections, it is a good idea to do so. If you are having trouble making your payments, please contact us so we can assist you.

For more information concerning your rights under the SCRA, service members and their families are encouraged to contact their nearest U. S. Armed Forces Legal Assistance Office if they need help meeting their financial obligations. ccc