Military - Financial Protections
Thank you to all military, both past and present, for selflessly protecting and defending our nation.
Benefits under Service Members Civil Relief Act Notice (SCRA)
If you are an active duty service member, or a spouse or dependent of such a service member, you may be entitled to various benefits, legal assistance and debt relief in accordance with the Service Members Civil Relief Act Notice (SCRA).
Under the SCRA, for eligible loans incurred before entering active duty, a servicemember may quality to have an interest rate reduced to a maximum of 6% while on active duty. If the loan is real estate secured, the reduced rate may extend for a period of one year thereafter. Additionally, SCRA protects against foreclosure and provides many other protections aside from those applicable to home loans.
Those entitled to legal protection under the SCRA include, but are not limited to, the following:
- Active Duty members of the Army, Navy, Air Force, Marine Corps and Coast Guard
- Active Reserve and National Guard personnel
- Commissioned members of the Public Health Service and the National Oceanic and Atmospheric Administration
To request relief under the SCRA, please send a written request together with a copy of the servicemember’s active duty military orders to:
Peoples Security Bank & Trust Company
150 North Washington Avenue
Scranton, PA 18503
Attn: Military Financial Protections