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Benefits for Military Personnel

At First Tennessee, we appreciate the sacrifices made by the members of our military, and we are proud to provide benefits through the Servicemembers Civil Relief Act (SCRA).  

What is SCRA?

Servicemembers on "active duty" or "active service" are entitled to certain legal protection and/or debt relief through this Federal act.

How Can I Benefit?

  • Interest Rate Cap – If you incurred financial obligations such as home or installment loans, credit cards, etc. prior to joining the military, we can cap your interest rate at 6% percent during your years of active duty and up to one year following
  • Permanent Change of Station – We have available assistance options for homeowners that receive PCS orders
  • Foreclosure Protection – No foreclosure action is allowed on your mortgaged property during your active duty and up to one year following your release from active duty
  • This is only a summary of your rights. Click here for detailed coverage information from Military OneSource, the U.S. Department of Defense's information resource

Who is eligible?

  • Regular members of the U.S. Armed Forces (Army, Navy, Air Force, Marine Corps, and Coast Guard)
  • Some of the SCRA benefits extend to servicemembers' spouses and dependents
  • Reserve and National Guard personnel who have been activated and are on Federal active duty
  • National Guard personnel under a call or order to active duty for more than 30 consecutive days under section 502(t) of title 32, United States Code, for purposes of responding to a national emergency declared by the President and supported by Federal funds
  • Active servicemembers of the commissioned corps of the Public Health Service and the National Oceanic and Atmospheric Administration
  • Certain U.S. citizens serving with the armed forces of a nation with which the United States is allied in a war or military action
  • Additional requirement:
    • Eligible loans must have been originated prior to active military duty to obtain 6% interest rate cap protection

How Do I Request Benefits?

  • Please submit a written request along with a copy of your military orders in one of the following ways:
    • Mail – First Tennessee, Attn. SCRA, P.O. Box 132, Memphis, TN 38101
    • Fax – Toll-free 1-877-422-5789
  • You will be notified if additional information is needed

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