Financial Protection For Those Who Serve
The Servicemember's Civil Relief Act (SCRA) provides a wide range of protections and benefits for individuals in the military who are called to active duty or deployed. The intent of SCRA is to postpone or suspend certain civil obligations to enable servicemembers to devote full attention to duty and to relieve stress on family members of those deployed servicemembers.
It's important to all of us at Santander that the men and women who serve in our country's military be aware of the protections and benefits SCRA provides. The questions and answers below provide valuable information that applies to the products and services offered by Santander.
Who is eligible under SCRA?
The SCRA covers all servicemembers (Army, Navy, Air Force, Marine Corps, Coast Guard), Reservists, and members of the National Guard while on active duty. The protection begins on the date of entering active duty and generally terminates within 30 to 90 days, and in some instances, up to a year after the date of discharge from active duty.
What are your SCRA benefits?
The SCRA is a broad statute that provides many benefits. Visit http://www.consumerfinance.gov/servicemembers/ for more details.
What types of loan accounts are covered by SCRA?
- Credit cards
- Installment and auto loans
- Mortgages and home equity loans and lines of credit
- Loans secured by a deposit account, such as a CD
- Other loans and lines of credit
It is important to remember that the SCRA interest benefit applies only to any existing loan made to a servicemember prior to the servicemember being called to active duty.
Key Benefits of the SCRA
How do I take advantage of the benefits?
You can request benefits by doing one of the following:
- Call 1.844.SAN.SCRA (844.726.7272) to request the benefit
- Submit a written request with a copy of your military orders to:
Santander Bank ,N.A.,
SCRA, MA1 MB5 01 03,
2 Morrissey Blvd.
Dorchester, MA 02125
- Email a request with a copy of military orders to SCRABenefits@santander.us
Additional Servicemember Resources: