Late Loan Payment Fee

Effective February 2023, SLCU – Loans Department began to send out loan payment reminders to members two (2) weeks prior to the loan payment date, this is to give members sufficient time to prepare and meet their loan payment. In line with these reminders SLCU has agreed to remove the late payment grace period of 7 days. Late fees will now be due on the first business day of being late and continue monthly (30 days) if payment remains outstanding. We take this time to thank all our members who make their loan payments early or on time. We acknowledge and appreciate your efforts.