Dear SRA Members,
A recent audit revealed that Sheriffs’ Relief borrowers with active loans between 2010 and 2015 were inadvertently charged one to two days’ excess interest at the inception of loans.
This occurred as a result of our computer software initiating interest charges on the day a loan was printed. In most instances, loans were picked up one or two days after printing, thus creating an excess interest charge.
Each borrower affected has had their overcharge calculated and electronically credited to their open loan account. Ninety-nine percent of these credits are less than $10 and most are under $5.
If you currently have an open SRA loan, your refund has already been applied to your account.
Should you have questions regarding your account, please email email@example.com. Please include your employee or retiree member number.
Sheriffs’ Relief Association