#United States #Glendale #California Credit Union #Wildfires #financial assistance

California Credit Union Responds to Wildfire Disaster

The California Credit Union is stepping up to provide crucial support to its members affected by the devastating wildfires in Los Angeles County. Recognizing the significant toll these natural disasters can take on the community, the credit union has unveiled special relief programs aimed at alleviating some of the financial burdens faced by its members.

Relief Programs Overview

Three key programs have been instituted to offer immediate financial assistance:

1. Loan Payment Assistance: Members can skip a payment on their consumer auto loans and/or Signature Plus loans without incurring any fees. This initiative aims to provide members with immediate cash flow relief during this challenging time.

2. Penalty-Free Certificate Withdrawals: Members who hold certificate accounts can withdraw their funds early without any penalties or fees. This option allows individuals to access necessary funds when they need them the most.

3. Reduced Rate Signature Loans: Members can apply for signature loans at a significantly reduced annual percentage rate (APR), which is 4.00% lower than the standard lowest rate available. Additionally, members can access up to twice their latest net paycheck or a maximum of $3,000, providing a flexible financial solution for immediate expenses.

Steve O'Connell, the President and CEO of California Credit Union, emphasized the organization's commitment to the local community, stating, "The wildfires have been devastating for many in our communities and we're here to help. California Credit Union members can rest assured we will work alongside them with a variety of special assistance programs to help alleviate some of the financial stress they may be experiencing."

Community Impact

The wildfires have not only destroyed homes but also disrupted lives, making the need for financial assistance more pressing than ever. California Credit Union stands by its members and encourages those affected to reach out with any questions or concerns regarding their financial situations. They can do so by calling the credit union or visiting a local branch.

Offering a full suite of consumer, business, and investment products, California Credit Union has built a reputation for its supportive approach, particularly during emergencies like the current wildfire crisis. Founded in 1933, the credit union now has about $5 billion in assets and serves around 200,000 members across various regions in California.

A Call to Action

Members affected by the wildfires are encouraged to utilize these programs, and the credit union is committed to making the application processes as smooth as possible. Steve O'Connell added, “We encourage members who may be impacted to contact us with questions or concerns about their finances so we can assist them through this challenging time.”

To find more detailed information or to apply for the relief programs, members can visit California Credit Union's website or call their dedicated support line at 800-334-8788. This proactive outreach from California Credit Union illustrates the pivotal role community institutions play during disasters, ensuring their members receive the critical support needed to navigate through tough times.

Conclusion

The impact of natural disasters like wildfires extends far beyond immediate physical destruction; they strain personal finances and the emotional well-being of those affected. Initiatives by organizations like California Credit Union are instrumental in providing relief that helps individuals and families regain a sense of stability. As communities come together to support one another, it's the hope that such efforts will pave the way for a quicker recovery.