Credit unions are to the fore in responding to the COVID-19 crisis on behalf of their members and in looking after their staff. Forbearance is the pervasive feature of credit unions responses – supporting members at a critical difficult time. Further examples include:
- CFCFE member Core Credit Union in County Dublin, Ireland, is offering a Cocooning Service. If a member can’t get to the credit union to withdraw cash because they are self-isolating, they can phone or email and receive a withdrawal dropped off at their house
- Altura Credit Union, a CFCFE member operating in Counties Wexford and Wicklow, Ireland, is waiving current account fees this quarter: https://twitter.com/Altura_CU/status/1247151478462124035
- US credit unions Hiway Federal, in Minnesota, and Affinity, Iowa, are proving bonus and salary enhancements to their frontline staff, as “a small way to say thank you”, as the Hiway CEO puts it. Read more here: https://bit.ly/3aQqs8G
- And showing spring-heeled marketing reflexes, CFCFE member HSSCU, operating nationwide in Ireland, is offering a Stay at Home Loan!
We would be interested to hear about and share other examples of the credit union difference specific to the crisis.