Credit Union Spotlight, presented by CUInsight, features credit unions taking action and changing their local communities. Join us as we recognize and celebrate the important work these credit unions do to bring their mission to life.
In response to the wildfires raging across Southern California, Credit Union of Southern California (CU SoCal) demonstrates its unwavering commitment to the community by providing immediate relief and long-term support to those affected.
Aligned with its mission of Building Better Lives, CU SoCal has pledged a $10,000 donation to CUAid, a fund dedicated to helping credit unions, their employees, and their communities in times of crisis. To further amplify this effort, CU SoCal encouraged its team members to contribute to CUAid as well. Helping Hands, CU SoCal’s charitable foundation, matched all employee donations up to $5,000, doubling the impact of their contributions.
The story:
Credit Union of Southern California (CU SoCal) is taking meaningful action to support those affected by the devastating wildfires across Southern California. In addition to donating to CUAid and matching employee contributions, CU SoCal is making $1.25 million in interest-free loans available to assist those impacted by the wildfires. These loans aim to provide financial relief and peace of mind, helping individuals and families focus on rebuilding their lives.
- Emergency Essentials Loan: Those impacted by the fires can borrow $1,500 at 0% interest for six months with no payments for 60 days and no credit history requirement.
- Wildfire Relief Loan: Members can access up to $5,000 per household at 0% interest for 12 months with no payments for 60 days.
- Loan Deferrals: Deferred payments on existing loans are available to free up funds for urgent needs like temporary housing or other critical expenses.
Additional support for CU SoCal team members
CU SoCal is also taking proactive measures to ensure the health and well-being of its team members. Recognizing the health risks posed by poor air quality, CU SoCal offers reimbursements of up to $100 to purchase personal air purifiers. For those unable to pay upfront, CU SoCal will purchase one on their behalf.
Additionally, the Helping Hands program is extending direct support to team members and their families impacted by the fires, ensuring they receive the assistance they need to recover.
A strong community is built on support and togetherness, and CU SoCal is leading by example. By taking swift action, they are providing financial relief, ensuring employee well-being, and demonstrating the true spirit of people helping people.
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