#United States #Glendale #California Credit Union #government shutdown #relief programs

California Credit Union's Response to Government Shutdown

In light of the ongoing federal government shutdown, California Credit Union has stepped forward to support its existing members affected by this situation. The financial institution announced a set of special relief programs specifically designed to ease the financial burden on those experiencing disruptions in their pay. Recognizing the stresses that come from uncertainty in income, California Credit Union demonstrates its commitment to the well-being of its members by offering practical solutions and support.

Relief Programs Overview

1. Loan Payment Assistance: Members facing paycheck delays may skip a payment on their consumer auto loans or Signature Plus loans without incurring any fees. This flexibility enables families to manage their finances without the added stress of immediate repayment obligations.

2. Penalty-Free Withdrawals: For those holding certificate accounts, California Credit Union offers an opportunity for early withdrawals without penalties or fees. This feature allows members to access their funds as needed, providing crucial financial flexibility during uncertain times.

3. Lower Rate Signature Loans: The credit union is also providing reduced rates on signature loans. Members can apply for loans at a rate that's 4.00% lower than the current best rate available, offering loans up to double their last net paycheck—up to $3,000. This reduced rate on loans makes it easier for those impacted to cover immediate expenses while waiting for their regular income to resume.

California Credit Union's President and CEO, Steve O'Connell, expressed empathy for the struggles members may face due to the government shutdown. He emphasized the credit union's readiness to assist and urged members to reach out with any questions or concerns. The message was clear: the organization is dedicated to standing by its members during these challenging times, assuring them that they are not alone.

Continued Commitment to Community

Founded in 1933, California Credit Union has grown to support a member base of approximately 200,000 individuals and offers a range of services tailored to meet diverse community needs. With total assets reaching $5 billion, the credit union is positioned to effectively support its members, particularly when unexpected challenges arise.

Being recognized as a Forbes Best-In-State Credit Union for the years 2024 and 2025 further solidifies its reputation as a reliable financial partner. The programs introduced amid the federal shutdown exemplify the credit union’s ongoing commitment to community service, financial inclusion, and stability.

Beyond these immediate relief programs, California Credit Union is committed to building financial resilience in underserved communities through various products and services aimed at enhancing financial literacy and security.

How to Get More Information

Members requiring assistance or further information about these relief programs are encouraged to contact California Credit Union directly at 800.334.8788, visit any local branch, or access the website at ccu.com. The credit union is ready to assist its members navigate through these difficult times with transparency and support.

In these precarious times influenced by the federal government's financial decisions, initiatives like those implemented by California Credit Union can significantly impact the lives of individuals and families affected. By prioritizing member support, California Credit Union not only showcases its resilience but also emphasizes the important role credit unions play in fostering community well-being.