TRAVERSE CITY, MI (March 26, 2020) — For borrowers that have experienced a temporary loss of income due to COVID-19 closure or related activity, members can apply for an income replacement loan (with 1st payment deferred for up to 3 months) equal to 3 months of lost wages, capped at $5,000 per month or $15,000 in aggregate per borrower. Rates are as low as zero percent up to 1.99% based on qualifications.
TBACU’s Chief Lending Officer, Chris Milliron says, “As a local credit union, we are committed to help provide solutions for our community members affected by the COVID-19 pandemic. I am hopeful by offering income support loans as well as skip-payments during these tough times, we can have a positive impact for our members in need!” While lobbies are currently closed, TBA Credit Union offers many ways for members to access their accounts. As always, members have access to their accounts by ATM, online banking and the TBACU Mobile App. Service Center Representatives are also available by phone and text at 231-946-7090 from 8 am-6 pm, Monday-Friday. Additionally, the branch Drive-Thru’s are available for use by members from 9am-5pm, Monday-Friday.
A $340 million (assets) credit union, TBA Credit Union provides financial services to over 19,000 members across the State of Michigan. In addition to two branches and a call center located in Traverse City, TBA Credit Union members have access to over 30,000 surcharge-free ATMs nationwide through the CO-OP Network and over 250 Xtend Shared Branching locations.
For more information about TBA Credit Union, visit tbacu.com or call 231.946.7090.Contact: Kyley Mclauchlan
Phone: 231.932.5042
Email: kyleym@tbacu.com
