A Message From the CEO
Dear ACU Members,
I hope that you are well and continuing to practice good health safety precautions during this difficult time. Reflecting upon the concept of “health” it strikes me that we are dealing with two health crises right now, a terrible virus as well as threats to our financial health.
For our part, I would like to assure you that ACU remains a solid and healthy financial institution with strong cash reserves. We have continued to welcome new members throughout the pandemic and all of our branches remain open, while operating under prudent, protective restrictions.
Credit unions were started to provide services and credit to people who could not get them from a bank. Those people usually shared a common bond such as an employer, a faith, or other connection. Having good credit and being able to borrow based upon your history and financial reputation is incredibly valuable. With their credit established, people have been able to finance their homes, cars, educations, businesses and futures.
But what do you do when, through no fault of your own, your economic world shuts down? What do you do when you want to work and have the skills and motivation to make a living, but you are directed to stay home? For many of our members, this is a reality. Despite the best efforts of leaders and employers, many ACU members have been relegated to waiting for a government check. For a family, every job is essential and the impact is very real.
Currently, we are doing all that we can to assist our members. We have been working with those who have been impacted by COVID-19 to suspend repossessions and defer payments for auto loans, personal loans and credit cards. Our Auto Concierge service is helping to connect people with vehicles. We have been working with borrowers to defer mortgage payments. Our SBA team has been working tirelessly to help our business members apply for government loans and payment relief. To date, we have approved over $4.5 million for businesses and have provided relief for hundreds of members.
Our goal is to keep members and businesses solvent and to protect their credit. When all of this is over, and that day will come, we want your financial health and safety to have been preserved. If you are facing financial hardship, please call us at 866-968-7128 before you get behind so that we can make a plan together.
Thank you for your continued membership, patience and healthy habits,
America’s Credit Union