#United States #CU SoCal #Anaheim Hills #financial relief #Emergency Loans

CU SoCal Responds to Government Shutdown with Essential Financial Aid

In light of the recent government shutdown, the Credit Union of Southern California (CU SoCal) has announced a series of financial relief options aimed at assisting its members who are experiencing financial strain. This initiative underscores CU SoCal's unwavering commitment to prioritize the well-being of its members during times of hardship.

Comprehensive Relief Measures

CU SoCal is providing three key relief options designed to alleviate some financial pressure on affected members:

1. Emergency Loans: These quick and flexible loans are tailored to help members manage essential expenses that arise unexpectedly due to the shutdown. The ease of access to these loans can provide immediate financial assistance during critical situations.

2. Loan Payment Deferrals: Members who find it challenging to keep up with loan payments due to loss of income or reduced hours during the shutdown can apply for temporary relief measures. This offers a much-needed break during a turbulent time, allowing families to focus on essential needs without the added stress of looming loan payments.

3. Waived Early Withdrawal Penalties: For members who need to access their savings during this period, CU SoCal is waiving the penalties associated with early withdrawals from Share Certificate accounts. This policy allows individuals to utilize their hard-earned savings without financial repercussions, creating a pathway to financial flexibility when it's needed the most.

A Message from Leadership

Dave Gunderson, President and CEO of CU SoCal, expressed the credit union’s resolve in supporting its members during this challenging juncture. He stated, "At CU SoCal, we exist to build better lives for our Members and communities, and that purpose guides us especially in times of crisis. We understand the stress the government shutdown is creating for many families. That's why we're making it easier for Members to access the financial support they need right now."

How to Access the Support

Members facing challenges due to their employment in federally funded positions can visit CUSoCal.org/ShutdownHelp for more information on how to apply for the relief options. A dedicated team is available to assist with personalized financial support and answer any questions via phone at 866.287.6225 during regular business hours. Additionally, members are always welcome to visit any CU SoCal branch for face-to-face assistance.

About CU SoCal

Founded as Whittier Area Schools Federal Credit Union in 1954, CU SoCal offers its services to individuals residing, working, or studying in Los Angeles, Orange, Riverside, and San Bernardino counties, in addition to communities in Lake Havasu City, Arizona. With a commendable five-star rating from BauerFinancial, CU SoCal is recognized for its financial stability and community-oriented mission. Serving over 182,000 members and holding more than $3.6 billion in assets, CU SoCal is staunchly positioned to provide comprehensive support, ensuring that financial relief reaches those who need it the most.

During these uncertain times, CU SoCal remains committed to being a reliable financial partner, helping its members navigate challenges and emerge stronger than before.