Marine Credit Union commits over $5 million to COVID-19 relief
Marine giving $50,000 per month for employees to provide local COVID-19 relief, $5+ million in consumer relief, continued employment and pay for all employees
LA CROSSE, WI (April 2, 2020) — In response to the COVID-19 Public Health Emergency and compelled by its mission “to advance the lives of people from a place of financial need to a life of ownership and giving back in our communities,” Wisconsin-based Marine Credit Union announced today the commitment of over $5 million in support to local communities.
Marine’s $5 million COVID-19 Community Commitment will deliver relief through the following programs:
- Employment & Pay Commitment: All 450+ Marine employees will continue to be employed and receive their full pay and benefits, regardless of ability to work normal hours during this crisis.
- Pandemic Relief Program: Existing Marine members who have been impacted may be eligible to defer loan payments.
- Emergency Relief Loan Program: Existing Marine members and employees who have been impacted may be eligible to receive relief loans with six months of no payments and interest. Marine is making up to $5 million of these loans available.
- Compassion Task Force: A team of dozens of employees are forging connections with members in need (e.g., the elderly, people celebrating birthdays) through outbound Compassion Calls.
- Community Support Dollars: $50,000 total per month given to front-line teams serving members in our branches and offices for local use to support area businesses and non-profit organizations impacted by COVID-19.
“We are committed to showing compassion to our employees, members and communities during this uncertain time,” said CEO Shawn Hanson. “Our mission is to advance the lives of people from a place of financial need to a life of ownership and giving back in our communities. Our mission compels us to respond to this crisis with courage. We want to help people remain on their feet and have money to spend in our communities.”
“Our employees are passionate about supporting small businesses in each of the communities we serve,” Hanson continued. “Whether it’s restocking food pantries, ordering from a local sandwich or coffee shop, or donating to a charity who had to cancel their fundraiser, our employees know who needs the most help.”
“We’re able to step up in these ways because of our financial strength, our committed team and the trust of our members. Thank you for trusting us to do the right thing. Thank you for being part of this journey with us. We will emerge from this stronger, more appreciative, more understanding – but we will emerge. And we want you to know Marine Credit Union will be there for you now, and when the pandemic is over.”
At Marine Credit Union, banking has always been about more than just money. Now more than ever, we are here to help. If you have are having money troubles due to the coronavirus pandemic, call us at 800-923-7280, and we can work together to help you get through this challenging time.
About Marine Credit Union
Marine Credit Union is a full-service, member-owned financial cooperative serving more than 78,000 members across Wisconsin, Iowa, Minnesota and Illinois. Headquartered in La Crosse, Wisconsin, Marine employs more than 400 people, operates 20 locations and holds over $1 billion in assets. Guided by its mission, “to advance the lives of people from a place of financial need to a life of ownership and giving back in our communities,” Marine looks at its members’ individual finances less as a number and more as a journey. The Marine Credit Union Foundation has donated more than $1.3 million to over 950 charitable causes since 2014. Marine earned Great Place to Work™ Certification in 2022 and Juntos Avanzamos designation in 2017 for its commitment to the Hispanic community. For more information, go to www.marinecu.com.
