Quantify your credit union shutdown assistance efforts
CUNA and the leagues are calling on credit unions who provided assistance to furloughed members during the government shutdown to fill out a survey on shutdown assistance efforts by Thursday, Jan. 31. The survey will take approximately 10 minutes, and is vital to quantifying credit union services during the shutdown.
“The work credit unions performed during the government shutdown helped keep thousands of families financially sound and showed how credit unions are truly about people helping people,” said CUNA President/CEO Jim Nussle. “Policymakers have reached out on several occasions for information on assistance available for furloughed employees, and we’ve been proud to tell that story, but we’re not done. We want to make sure we have the most accurate picture possible of credit union efforts.”
Credit union products and services offered during the shutdown include:
- 0% APR loans;
- Providing free financial counseling, debt management and financial education;
- Waiving early withdrawal penalties;
- Allowing members to skip a payment;
- Offering loan modifications;
- Offering loans matched to pre-existing direct deposit;
- Providing mortgage loan forbearance;
- Increasing lines of credit; and
- Offering individual financial solutions.
CUNA is continuing to track credit union services on its shutdown assistance page.