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Policy and Procedure ManualChapter 380, Personnel--General Responsible Department: Accounting & Financial Services Exhibit A, Staff Employee Emergency Loan Request This section describes the Staff Employee Emergency Loan Fund. Academic employees can apply to the Dohrmann Emergency Loan Fund; contact Academic Personnel at (530) 752-2072. Student employees can apply to the student emergency loan funds; contact Financial Aid at (530) 752-2390. When a paycheck is delayed, use the emergency payroll payment process (see Section 380-57 or UCDHS Hospital Policies and Procedures Section 1878). A. The Staff Employee Emergency Loan Fund provides loans to eligible UC Davis employees who have a need that meets the loan fund criteria. 1. Eligible employees must meet the following criteria: a. Career staff on active payroll status. b. Appointed to work 50% time or more. c. Received a satisfactory or higher rating on current employee performance appraisal. d. No significant corrective actions for the past two years. 2. Need for the loan must meet the following criteria: a. Funds must be needed as a result of an emergency or a dire personal financial hardship (e.g., death in the family, unreimbursed expenses for emergency health care, emergency car expenses). b. The employee must have no other source of money with the time frame needed to act. c. The employee must be unable to get a loan from a lending agency. d. The loan is for $5,000 or less. e. Loans shall not be approved for predictable needs (e.g., credit card bills, insurance, taxes, seasonal spending). B. All information related to an employee's request for an emergency loan is confidential. C. A new loan shall not be granted when an existing loan is being repaid. D. No more than two emergency loans shall be granted within a 5-year period. III. Loan Repayment Conditions A. The interest rate for the loan is set in Accounting Manual Section E-526-48. B. The maximum loan period is three years. 1. The loan period shall not generally exceed one year. 2. The loan period shall not extend past the end date of the appointment. C. All loans shall be repaid by payroll deduction. 1. The first payroll deduction shall occur within 45 days from the date of the loan. 2. If an employee separates, the loan must be fully repaid by deducting the loan balance from the final paycheck. D. There is no penalty for prepayment. A. The employee sends the following to the Emergency Loan Coordinator: 1. Loan request (Exhibit A). 2. Loan denial from an outside bank/agency that is less than 60 days old. 3. Cost estimate from the vendor. B. The Emergency Loan Coordinator verifies employment and performance status of the applicant with Employee and Labor Relations. C. The loan review committee reviews the application and supporting documentation and approves or denies the loan. 1. The committee for the Davis campus is appointed by the Associate Vice Chancellor--Finance/Controller. 2. The committee for UCDHS is appointed by the Executive Director--Human Resources. D. The Emergency Loan Coordinator notifies the employee of the decision. 1. If the loan is approved, the Emergency Loan Coordinator prepares the loan documents and requests/obtains the check. 2. The employee signs the promissory note and payroll deduction form before receiving the check. E. Payroll enters the payroll lien deduction and reviews all separation check requests to deduct the loan balance when there is an outstanding loan. For additional information on the Staff Emergency Loan Fund, contact Accounting and Financial Services (Davis campus) at (530) 757-8521, or UCDHS Human Resources (UCDHS) at (916) 734-2362. VI. References and Related Policies UC Accounting Manual, Chapter E-526-48, Employee Emergency Loan Fund. Copyright © 2006 The Regents of the
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