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COVID-19 Resources and FAQs

We understand that the things most important to you during these times are help, guidance and the ability to find the information you need in one place. We've compiled a list of resources and answers to frequently asked questions to help you get the information you need quickly.

Business Solutions

Navy Federal participated in the Paycheck Protection Program (PPP). However, the Small Business Administration closed the program on May 31, 2021. 

Visit our Business Solutions COVID-19 Response page for a general overview of requirements, allowable expenses, when you can apply and factors that could affect your forgiveness.

The SBA recently opened a forgiveness application portal. However, if you received your PPP loan through Navy Federal, you must apply for forgiveness through our digital portal. It’s easy to use and provides a streamlined process, and you’ll receive the same forgiveness amount as you would through the SBA. 

The Small Business Administration (SBA) has several programs to assist small businesses that have been affected by COVID-19. Please check their website for more details.

Program Availability and Eligibility

Yes, we’re offering several options to assist eligible members who may need help.

Eligible members have access to loan extensions, deferred payments, credit card line increases, student loan forbearance through LendKey, overdraft protection, fee-free transfers and penalty-free certificate withdrawals.

Whether or not you’re eligible for any of the above options, our personal financial counseling team is available to all members who need help.

We're available to assist you 24/7.

Yes, new members are eligible.

Debit and Credit Card Disputed Charges

The fastest way to find out if you can make a change without penalty is to check with your travel merchant (e.g., airline, hotel, car rental agency). Many already have processes in place. Check their websites for policies and explanations on changing or canceling services, as well as general contact information should you need further help.

If you're unable to resolve the issue with the merchant, our dedicated dispute resolution team may be able to help. You can file a dispute claim by calling us at 1-888-842-6328. For credit cards, you can submit the credit card dispute form online. It may take up to 90 days from the date your credit card dispute is submitted to complete our review. Debit card disputes will report the results of the dispute resolution process to you within 120 days.

Accessing and Sending Money

  • Sign in to online banking.
  • Click the "Account Services" tab.
  • Find the "Checking & Savings" section.
  • Click "Optional Overdraft Protection Service".

There are penalties to earned dividends if you close or withdraw from a certificate before its maturity. Navy Federal is not automatically waiving penalties at this time; however, there may be circumstances where they may be waived. Please contact us to discuss your options.

Choose the best fee-free option to send money to friends and family who may need it.

  • Use our app for member-to-member or Zelle® transfers.
  • Send through cash transfers.


If you’re eligible, we can offer a forbearance that temporarily suspends your mortgage payment requirements. Please contact us at our toll-free number 1-800-258-5948, Monday-Friday, 8 am - 9 pm, ET or send us a secured message for additional information regarding the forbearance or to request the forbearance.

That will depend on several factors (e.g., your circumstances, type of loan). We’ll contact you 30 days prior to the expiration of your forbearance plan to discuss your options.

Some possible options include:

  • extending the forbearance period, up to 18 months of total forbearance coverage
  • bringing the account current through a reinstatement
  • entering a repayment plan where the missed payments are spread out over a period of up to 12 months. That means you’d make your regular payment plus the agreed-upon repayment amount each month during the forbearance repayment period.
  • being approved for a workout option such as:
    • a loan modification where the suspended payments are spread over the remaining term of the loan
    • a deferral where the missed payments are paid at the end of the original loan term

A forbearance plan offers a temporary suspension of your mortgage payments—in 90-day increments. This payment suspension will be automatically extended for the first 180 days, unless you choose to cancel the plan. After that, you may continue to request 90-day extensions, for up to a total of 18 months of forbearance coverage.

During the payment suspension period of your Forbearance Plan, we’ll report the loan as current, if your loan was current before forbearance started. If your loan was delinquent before entering forbearance, we'll maintain your delinquent status. If you’re able to bring the loan current, we’ll report it as current. We can't advise on any impact to your credit rating.

Late fees will be waived once the plan is completed, even though your loan may still show past due in your NFCU account page online and may show assessment of late fees.

During the forbearance period, fees, penalties or interest, beyond the amounts scheduled, won’t accrue. The account will be treated as if you made all contractual payments on time and in full under the terms of the mortgage.

Yes, you can make payments during the forbearance period, if you choose to do so. Making payments won't invalidate or alter the scheduled completion date of your forbearance period.

Members are eligible for at least 12 months of COVID-19 forbearance. If your initial forbearance period started on or before June 30, 2020 and your loan is not owned by Fannie Mae or Freddie Mac, you are eligible for up to an additional 6 months extension (or up to 18 months total). If your loan is owned by Fannie Mae or Freddie Mac, you are eligible for the additional 6 months (up to 18 months total) if you started COVID-19 forbearance on or before February 28, 2021. If you are unsure whether or not you have a Fannie Mae or Freddie Mac loan, you can find out on the Fannie Mae or Freddie Mac website.

The standard lock commitment for Purchase loans is 60 days. We advise consulting with your home loan advisor for more details about available extended lock options.

For Refinance loans, the standard lock commitment is also 60 days; however, due to delays caused by COVID-19, we’ll honor your locked rate no matter long it takes to close your loan.

Depending on where you live and your loan circumstance, purchasing a new home may be as low as 35 days. If you are planning to refinance your home, closing times are estimated to take 90-120 days. Consult with your home loan advisor for more details on your expected closing time.

Industry professionals are expected to follow all CDC guidelines and best practices.

In some cases, there may be alternative ways to complete these processes without someone entering the home. Consult with your home loan advisor or third-party service provider to discuss the best option for you.

Businesses may have reduced hours and/or limited operations to help prevent the spread of COVID-19. With mortgage rates at an all-time low, mortgage demand has skyrocketed across the industry, resulting in more work than some businesses can handle. Despite any delays in the process, we'll honor your locked rate.

Similar to appraisal and inspection companies, settlement companies may have reduced hours and/or limited operations.

Many companies are still doing in-office settlements. Settlement may also take place in an outdoor space instead of an office for your safety. Refer to your settlement agent for further guidance on their current procedures to determine the best option for you.

If you don’t use a computer, you may still be able to visit a branch. Please be mindful—some of our branches will have reduced hours and others will be closed. Refer to your home loan advisor for additional guidance.

Auto Loans

Please contact us to discuss payment options that best meet your financial needs.

Please contact us to discuss the options available for your auto loan payments

After signing in to your account via online banking or the mobile app, you can apply for your auto loan in just a few minutes. There's no fee to apply and most decisions are instant. In cases where applications require a more detailed review, we'll send you an email and/or a text.* You can also apply over the phone at 1-888-842-6328.

You can receive your check via the following options:

  • mailed to the address you provided (fee may apply depending on delivery type)
  • picked up in a branch

Visit our Branches and ATMs page for more information on branch closures or reduced hours.

For auto loan approvals, if the co-applicant’s address is different from the primary applicant’s address, the loan check and promissory note are sent to the co-applicant first.

All DMVs offer online transactions and processing by mail, but many are conducting in-office transactions by appointment only. Check with your local office to see whether they’re open for full service or if they have reduced hours/limited operations.

Depending on your state’s title requirements and your individual circumstances, it could take 60 days or longer before you receive your title. Check with your local DMV for more details.

Student Loans

Navy Federal offers only private student loans. 

You can refinance and consolidate existing private, federal and Parent PLUS loans with us though.

If you have federal student loan debt, we recommend reviewing the benefits of those loans and how they may change if you refinance.

If you’re looking to save on your monthly payments, now may be a great time to refinance your private student loans. 

For federal student loans, that may not be the case as the federal government suspended eligible federal student loan payments and interest at least through Jan. 31, 2022 (retroactive to Mar. 13, 2020). 

If you refinance your federal student loans now, you'll no longer have access to the future benefits they offer, such as:

  • certain forbearance and deferment options
  • loan forgiveness for public service
  • income-based repayment plans. 

Instead, you’ll only have the benefits of the refinanced loan. We recommend comparing those options before refinancing you student loans. 

No, the CARES Act provisions only apply to federal student loans.

We encourage you to reach out to your federal loan servicer to discuss waiving interest on your federal student loan.

Contact the Student Loan Center at 1-877-304-9302 from 8 am to 8 pm, ET, Monday through Friday.

COVID-19 Stimulus Payouts

Please note: Navy Federal isn't responsible for determining stimulus payment eligibility. 

  • Taxpayers who filed their 2019 or 2020 federal tax returns didn't have to apply.
  • For Social Security and Railroad Retirement recipients who aren't required to file a tax return, the IRS used the information on their SSA-1099 or RRB-1099 to calculate their payments. They used the payment method normally used to distribute benefits.
  • Other individuals, such as low-income workers and certain veterans and individuals with disabilities who aren't required to file a tax return, are still eligible for Economic Impact Payments and can provide their income information to the IRS using a Non-Filer Payment Info application.

If you’re eligible, the IRS will use the financial institution and bank account information you provided on your most recent tax return to deposit the funds electronically. For Social Security and Railroad Retirement recipients, the IRS will use direct deposit as explained above. If you didn’t provide direct deposit information, they’ll mail you a paper check or prepaid debit card to the address listed on the last tax return you filed. 

Please note: If you've already received a payment from a previous round of stimulus checks and were eligible for this round, the IRS delivered the new payment the same way.

No, as the IRS doesn't allow people to change direct deposit information already on file with them to help protect against potential fraud. The IRS’ Get My Payment page may have more information.

You can deposit your check using the Mobile Deposit feature from our mobile app* or by visiting any ATM location. Check for information about branch closures or reduced hours and ATM locations in your area.


Members with overdrawn accounts will be issued a temporary credit, bringing their negative balance to $0.00, if their accounts meet certain conditions. Members who receive a temporary credit will receive it within 1 business day of receiving their stimulus payment. After 62 days , the temporary credit will be reversed. Members will receive an email notification before the temporary credit is reversed. 

In some cases, yes, this may happen. The full amount of the temporary credit will be removed after 62 days, regardless of the current account balance. If the balance in the account at the time the temporary credit is removed is less than the total amount of the temporary credit, the account may revert to a negative state. 

If your account credit has been reversed and you’re concerned about your balance, we have resources that may help. 

If you haven’t received your stimulus payment, you can check your status on the IRS’ Get My Payment page

The IRS has previously indicated that stimulus payments will be sent in 1 of 3 ways:

  • Direct deposit in the account provided by the taxpayer on their 2019 tax return
  • Paper checks mailed to the address listed on the 2019 or 2020 tax return
  • Government-issued debit card mailed to the address listed on the 2019 or 2020 tax return

Paper checks and debit cards will likely take longer to be received.

Note:  In 2019, some tax preparers set up an account for their clients’ refunds, deducted their fees and sent the remainder to the client. If you used this type of service, your stimulus payment may have been sent to that account. Contact your tax preparer if you think this may apply to you.

As explained above, if you used a tax preparation service, it's possible they may have deducted a fee from your stimulus payment before they deposited it to Navy Federal. Since we didn't charge this fee, we suggest contacting your tax preparer.

Those who received a prepaid debit card can make purchases anywhere Visa® Debit Cards are accepted (in stores or online), get cash from domestic in-network ATMs, transfer funds to a personal bank account, or obtain a replacement card if needed. Navy Federal is unable to track these cards or tell you when you may receive one. Please refer to the latest press release from the IRS for more information.

In order to quickly disburse stimulus payments, some people who received them by paper check previously may have received a prepaid debit card this time, and some people who received a prepaid debit card previously may have received a paper check. Again, Navy Federal is unable to track these cards or checks, or tell you when you may receive one. Please refer to the IRS for more information.

Payroll Tax Deferral

The Payroll Tax Deferral is an executive order from President Trump allowing employers to defer withholding the payroll tax from Sept. 1, 2020 through Dec. 31, 2020, for employees who make less than $4,000 every 2 weeks—or $104,000 a year. Military members and federal employees whose monthly basic pay is less than $8,666.66 will have their Payroll Taxes deferred during this time period.

The payroll tax funds Social Security and Medicare. Employers and employees each pay 6.2% for Social Security and 1.45% for Medicare, and the highest earners are taxed an additional 0.9%. The Payroll Tax Deferral applies only to the 6.2% Social Security portion.

For civilian employees, deferred taxes will be collected between the pay periods ending Jan. 16 through Dec. 4, 2021, according to Defense Finance and Accounting Service (DFAS). For Active Duty military members, deferred payroll taxes will be collected from their mid-month and end-month paychecks between Jan. 1 and Dec. 30, 2021. For more information, visit the DFAS Social Security Payroll Tax Deferral page

Payroll taxes will be deferred for all Active Duty servicemembers and federal civilian employees whose monthly basic pay is less than $8,666.66, beginning with the second paycheck of September and ending with the last paycheck of 2020. To determine eligibility for the payroll tax deferral, employees should check their leave and earnings statements (LES). Those whom the deferral applies to will be responsible for repayment in 2021.

No. This is not optional for federal civilian or military employees if their monthly basic pay is less than $8,666.66.

Not necessarily. Private employers are not required to offer the deferral. For more information, talk to your human resources or payroll departments and refer to the IRS website.

Each pay period, you may want to consider saving the Payroll Tax amount that would normally be deducted from your paycheck. A Navy Federal savings account is a good place to set aside this money for safekeeping and higher dividend rates, and there are many options to choose from. You can set up a recurring transfer to automatically move these funds to the savings account of your choice.

Child Tax Credit

The Child Tax Credit is a tax benefit payment granted to help low- to middle-income American taxpayers support each of their qualifying dependent children. The IRS will distribute half the total credit amount to eligible taxpayers in advance payments over a 6-month period, beginning July 15, 2021. These payments are not taxable income, and you will claim the remaining half of the payments when you file your 2021 tax return.

Recent legislation for 2021 increased the maximum annual credit to $3,000 per eligible child under 18 years old or $3,600 for children under 6 years old. Eligible families will receive a payment of up to $300 per month for each child under age 6, and up to $250 per month for each child ages 6 through 17. Eligible children are legal dependents who are U.S. citizens, U.S. nationals, or U.S. resident aliens.

This applies only to the 2021 tax year.

Benefits will be received as advance payments from the U.S. Treasury beginning July 15, distributed monthly unless additional action is taken. Navy Federal cannot determine if you’re eligible, nor provide you a credit. All funds will come directly from the Treasury and will be based on your most recent tax return as well as how you elected to receive funds.

The treasury has also launched a new online tool to help families who aren’t required to file tax returns receive the Child Tax Credit.

If you’re eligible, you’ll be enrolled automatically (if you filed a 2019 or 2020 tax return/gave the IRS information to receive the Economic Impact payment). You’ll receive your payments monthly. 

If you haven’t provided information or aren’t required to file a tax return, you may still be eligible and can enroll on the IRS website.

The IRS has an online tool to help you:

  • check if you’re enrolled to receive payments
  • unenroll from advance payments to stop receiving them
  • provide or update your bank account information for monthly payments starting with the August payment

Eventually, the IRS will also be able to help with making other updates that affect your payment.

If you have an overdrawn account, you’ll be issued a temporary credit to bring your negative balance up to $0.00. You’ll receive your temporary credit within 1 business day of receiving the Child Tax Credit payment, so you’ll have access to the full Child Tax Credit amount.

You’ll still be responsible for your previous negative balance. On Feb. 15, 2022, the temporary credit will be reversed. You’ll receive an email notification before that happens. 

If you have questions, or would like to reverse the temporary credit, please send us an eMessage or give us a call at 1-888-842-6328.

In some cases, yes, this may happen. The full amount of the temporary credit will be removed on Feb. 15, 2022, regardless of the account balance at that time. So, if your account balance is less than the amount of the temporary credit, the account may go back to a negative amount. 

If you’ve made a partial payment toward the temporary credit, the amount that’s removed may be less than the original temporary credit amount. Here's a simple example:

Suppose your account was overdrawn $100 at the time the Child Tax Credit was sent to you, and we gave you a temporary credit of $100 to bring your account balance up to $0.00. If you deposit $50 toward covering the original $100 overdraw prior to Feb. 15, 2022, then only $50 of the temporary credit will be removed. 

If your account credit has been reversed and you’re concerned about your balance, we have resources that may help. You might also consider using our Personal Finance Counseling service. This free service can help you with setting goals, budgeting, improving your finances and more.