Alaska USA Federal Credit Union’s response to COVID-19
Assisting members and offering Paycheck Protection Program loans
ANCHORAGE, AK (May 13, 2020) — People helping people, the credit union philosophy, has never wavered as Alaska USA Federal Credit Union puts its members, employees and the markets it serves as top priority during the COVID-19 pandemic. From implementing an informative website and support services to members, to providing flexible remote work and/or paid leave options to meet the needs of employees, Alaska USA is committed to ensuring members and employees receive the same level of service, value and convenience during these uncertain times.
Members with a consumer, real estate, Visa, extra credit loan, or certificates of deposit accounts who have been impacted by COVID-19 and have requested assistance, have been aided throughout the course of the pandemic in the following ways:
- More than 23,000 consumer loan payment deferrals on credit card and consumer loans:
- Affecting more than $550,000,000 in loans.
- April and May late fees have been waived for all consumer and mortgage loans.
- All fees related to early withdrawals on Certificates of Deposits have been waived.
- 1,000+ mortgage payment forbearances have been granted.
“Alaska USA is and always will be committed to the financial health of the communities we serve,” said Geoff Lundfelt, president and CEO of Alaska USA Federal Credit Union. “That is why now, more than ever, our employees, members, and partners in business will be given whatever support we can provide as our ongoing commitment to service.”
Alaska USA has also provided business members with an opportunity to apply for funding through the Small Business Administration (SBA) Paycheck Protection Program (PPP). Alaska USA Business and Commercial Services has navigated a completely new government program, setting up the application procedures, and processing the loan in a very short period of time in order to help as many business members as possible. The team worked tirelessly around the clock to make sure each application was processed appropriately through the SBA. We continue to accept loan applications for PPP loans and will do so until funding runs out.
To date, Alaska USA has provided the following support for its business members:
- 1,601 PPP loans have been granted
- $88.9 million has been granted
- 178 business loan payments have been deferred
- Affecting more than $251 million in total loans
- All late fees for April and May have been waived
About Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is a member-owned, not-for-profit financial cooperative with $10.2 billion in assets and more than 700,000 members worldwide. The credit union operates more than 90 branches and service facilities in Alaska, Arizona, California, and Washington State. Alaska USA offers a 24/7 Member Service Center and access to more than 55,000 surcharge-free ATMs worldwide, as well as online and mobile solutions.
Learn more at alaskausa.org.