CUNA News continues its coverage of credit unions’ response to the coronavirus (COVID-19) crisis. Credit unions continue to innovate and adapt, anticipating the evolving needs of members and staff:
UW Credit Union, Madison, Wis., has partnered with former Wisconsin Badgers Football running back and NFL draft pick Jonathan Taylor to raise money for relief efforts. The $3.5 billion asset credit union will donate $23 to both the United Way of Dane County and United Way of Greater Milwaukee & Waukesha County for every new checking account opened with the organization’s Jump Around or Bucky debit cards.
More members are contacting their credit unions to skip or extend payments. That’s the case for BCU in Vernon Hills, Ill., which has issued about $700,000 in emergency loans but has assisted “thousands” of members with payment extensions, says Jim Block, executive vice president/chief operating officer for the $3.9 billion asset credit union.
Desert Financial Credit Union in Phoenix has partnered with the City of Tempe, Ariz., to create a $1 million small business emergency loan program. “These businesses really need help,” says Jeff Meshey, president/CEO at the $4.9 billion asset credit union. “We devised a program that helps with cash flow needs for a short time. They aren't grants, they're not gifts, they're true loans.”
In an effort to lift staff’s spirits, CORE Credit Union, Statesboro, Ga., recently recognized its employees with a special day of celebration—and as much of a gathering as it could safely do under social distancing guidelines. “Our employees have been absolutely outstanding during this ordeal,” says Bob Clampett, president/CEO at the $100 million asset credit union.
Eric Bruen, president/CEO of $40 million asset Desert Valleys Federal Credit Union in Ridgecrest, Calif., and Judy De Lucca, president/CEO of $175 million asset New Orleans Firemen’s Federal Credit Union, joined the CUNA News Podcast to talk about their experiences responding to crisis situations and how those experiences have guided them during the current pandemic.
Credit union foundations, with support from leagues and credit unions, are providing relief assistance throughout the states they serve as the pandemic touches every corner of the nation. There are 23 state foundations and the National Credit Union Foundation, all of which have programs and resources making a positive difference in our communities.
Follow our ongoing coverage for more stories of credit unions and system providers taking action during the pandemic. And to share your credit union’s experience, get in touch with us.