CFE Federal Credit Union supports community after Hurricane Irma
LAKE MARY, FL (September 18, 2017) — As the community begins to recover from Hurricane Irma, CFE Federal Credit Union has come together to offer support to those still facing challenges in the storm’s aftermath.
CFE has implemented two short-term loan options to help households cope with unexpected expenses, such as insurance deductibles, home repair, and loss of personal belongings. Households can choose between the Short-Term Recovery Loan, a 12-month loan of up to $1,200 with a fixed 0.75% Annual Percentage Rate (APR), and the Hurricane Assistance Loan, a 36-month loan of up to $5,000 with a fixed 3.75% APR.
In addition, community members who experienced significant damage can take advantage of the Disaster Rebuilding Loan, borrowing up to $10,000 over 60 months at a fixed 6.75% APR.
“Credit unions believe in a ‘people helping people’ philosophy, which starts within our own community. CFE is committed to providing assistance in any way we can to those who are still facing challenges following the storm,” said Kevin Miller, President and CEO of CFE Federal Credit Union. “By offering these disaster loan options, we hope to help our neighbors recover and move forward.”
In the wake of Hurricane Irma, CFE has offered one-on-one assistance to members in financial distress and provided payment extensions when needed. Employees have also worked late into the night to restore services and to ensure the functionality of online banking.
CFE has also launched other initiatives to benefit the credit union’s employees still affected by the storm. On September 14 and 15, CFE initiated a “jeans day” fundraiser, collecting donations to assist staff members facing storm-related challenges. The credit union also offered free coffee for its employees and opened its doors early to allow access for employees without power to take advantage of the fitness facility for a shower. In addition, CFE employees in need were able to cash in up to five days of accrued sick or vacation time to receive up to 120 hours of pay.
“It is important for us to come together and give back to our community and our staff during its time of need. Central Florida has played a significant role in CFE’s heritage, and we are dedicated to supporting those who were affected by the devastation of Hurricane Irma,” said Linh Dang, CFE’s Chief Development Officer.
About CFE Federal Credit Union
Founded in 1937 by 23 educators, CFE Federal Credit Union serves more than 155,000 members. With more than $1.86 billion in total assets, CFE offers its members an array of financial products and services at 22 full-service branches, nine high school branches, and more than 40 ATMs. Anyone who lives, works, worships, volunteers, or attends school in Orange, Seminole, Osceola, and Lake Counties may become a member. Qualified businesses and other entities may join as well. CFE is the Official Financial Institution of the UCF Knights and owns the naming rights to the CFE Arena on the University of Central Florida campus. CFE is also the Preferred Credit Union for Seminole State College and the Preferred Credit Union for Valencia College. For more information, visit mycfe.com.
