Financial Center provides financial relief and education during pandemic
INDIANAPOLIS, IN (March 30, 2020) — Financial Center First Credit Union is providing financial relief to members during the COVID-19 pandemic including: a relief loan of up to $5,000 at 0% interest and no payments for 60 days, auto refinancing with a $500 cashback incentive and no payments for 90 days, and skip-a-payment options for existing first mortgage, consumer and auto loan holders.
As an essential business, Financial Center is operating through drive-up only at least through April 6. To help their members more easily access their money, they’re waiving Financial Center fees at other institutions’ ATMs, fees associated with making online loan payments, and early withdrawal penalties on Certificates and special savings accounts.
Financial Center’s also offering assistance to non-members including a low-interest, unsecured loan with no payments for 60 days and no payments for 90 days on new auto loans/refinance.
“Our Financial Center team is here to improve the financial lives of the members and communities we serve. Being present, listening intently and providing customized guidance helps create financial peace of mind for our members, and this is what it means to be a credit union,” said J. Kevin Ryan, Financial Center’s President and CEO. “We’re looking at every resource we have from online technology, outbound phone assistance, and improved lending practices to help everyone we can navigate through this uncertainty.”
As Central Indiana’s economy slows and unemployment quickly rises as a result of non-essential businesses temporarily closing, Financial Center also wants to make sure people are making smart decisions when it comes to their money.
“One of the first things you should do when your family’s financial situation changes is take that 10,000-feet view of your monthly budget,” said James Davidson, Financial Center’s AVP of Financial Literacy and Certified Credit Union Financial Counselor. “If you need help prioritizing debt and assessing next steps, talk to Financial Center or another local credit union. We all offer free financial counselling.”
In addition to over-the-phone financial counselling, people can take advantage of free online financial learning on topics like budgeting, understanding credit and retirement planning or listen to Financial Center’s recent podcast on preserving your finances through COVID-19.
Access all of Financial Center’s free educational resources at fcfcu.com/financial-education. To learn more about Financial Center’s relief efforts, visit wecare.fcfcu.com. Call 800.473.2328 to set up a free financial counseling session.
About Financial Center First Credit Union
Financial Center First Credit Union is a $801 million credit union whose mission is to improve the financial lives of its members who live or work in Indianapolis, Kokomo, Muncie, and their surrounding counties. Over 80,000 members at Financial Center and its Muncie-based division, Ball State Financial, take advantage of competitive rates and low fees by banking with the Central Indiana-based credit union. Financial Center is proud to empower the community by supporting military veterans, feeding the hungry, and bringing award-winning free financial education to all. Learn more at www.fcfcu.com.