Credit union offers relief to those financially impacted by COVID-19
WILLIAMSPORT, PA (March 26, 2020) — Horizon Federal Credit Union of Williamsport, PA implemented a new program designed to providing financial relief to those with lost income as a result of the Coronavirus pandemic. Horizon Cares allows members impacted by this pandemic to defer all loan payments up to 90 days, refinance existing loans with a 90-day payment deferment, waives ATM fees, and increases the limit on mobile deposit. As part of the program, Horizon unveiled a new loan product which offers impacted members a loan equal to 1.5 times their net monthly income prior to reduction, at a low interest rate. Members will be required to repay only the interest for the first six months of the up to thirty-six-month loan.
“As a credit union, we have a fundamental duty to our community” said Horizon CEO Justin Howard. “Restoring and lifting up our communities from this global crisis starts with helping those impacted by it. Horizon is proud to assist those impacted and we are looking forward to a brighter financial future for everyone!”
Horizon announced an additional program for small business owners whose businesses are suffering due to social distancing and the Governor’s directive to shutdown non-essential businesses. Horizon is waiving their monthly business account fees through the end of the year. In coordination with their business services partner, Newtek, they are offering attractive small business loans and cash rebates for businesses to acquire the equipment to accept debit and credit card payments.
“Small businesses are the lifeblood of our community” continued Howard. “This pandemic has made it difficult to generate income to pay their employees, rent, and utilities. Many small businesses don’t currently accept card payments, and these rebates will make it easier to get started.”
About Horizon Federal Credit Union
Horizon Federal Credit Union is a member-owned financial cooperative providing financial services to approximately 14,400 members with offices in Lock Haven, Muncy, State College, and Williamsport, Pennsylvania. Membership is open to those who l live, work, worship or attend school in the eleven Pennsylvania counties of Bradford, Centre, Clinton, Columbia, Lycoming, Montour, Northumberland, Potter, Sullivan, Tioga, or Union. To find out more visit us at horizonfcu.org.
