California Credit Union Introduces Support for Members Affected by Shutdown
California Credit Union Extends Relief Initiatives
Special assistance offered to California Credit Union members whose pay has been disrupted as federal employees.
In light of the recent government shutdown, California Credit Union has stepped up to assist its members who are facing financial strain due to pay disruptions. With a commitment to supporting its community, the institution has launched several relief programs tailored to meet the needs of those affected.
Key Relief Programs Offered
The California Credit Union offers a range of programs designed to provide immediate financial relief. These initiatives are aimed at alleviating the stress experienced by members during these challenging times.
Loan Payment Assistance
Members can benefit from the Loan Payment Assistance program, which allows them to skip a payment on their Consumer auto loan or Signature Plus loan without incurring any fees. This feature provides a crucial buffer for members who may be facing unexpected financial burdens.
Penalty-Free Certificate Withdrawals
For those with certificate accounts, California Credit Union enables penalty-free withdrawals. This means members can access their funds without facing any penalties or fees, providing essential relief when cash flow is tight.
Reduced Rate Signature Loans
Additionally, members have the opportunity to apply for reduced-rate signature loans. This program allows individuals to secure loans at a significantly lower rate—4.00% below the current lowest rate offered—up to $3,000 or double their most recent net paycheck. This can be a lifeline for many as they navigate through these difficult financial waters.
Support from Leadership
CEO Steve O'Connell expressed the credit union's commitment to its members. He stated, "We understand the difficulties our members may face if they don't receive their paychecks 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 this government shutdown may cause."
How to Access These Programs
Members are encouraged to reach out for assistance. Those interested in learning more about these relief programs should contact California Credit Union directly at 800.334.8788 or visit their local branch. Further details can also be found by visiting ccu.com.
About California Credit Union
Founded in 1933, California Credit Union is a state-chartered and federally insured institution with a strong presence across the state. Boasting assets of $5 billion and approximately 200,000 members, it is dedicated to serving the financial needs of the community. The credit union has been recognized as a Forbes Best-In-State Credit Union in both 2024 and 2025, illustrating its commitment to excellence in financial service.
California Credit Union offers a broad spectrum of products and services, including comprehensive consumer, business, and investment options. Notably, it operates under the name North Island Credit Union in San Diego and Riverside Counties. Being certified as a Community Development Financial Institution (CDFI), it is dedicated to promoting financial stability within underserved communities.
Frequently Asked Questions
What relief programs does California Credit Union offer for members?
California Credit Union offers loan payment assistance, penalty-free certificate withdrawals, and reduced rate signature loans to support its members.
How can I contact California Credit Union for more information?
You can call California Credit Union at 800.334.8788 or visit any local branch for assistance.
Are there any fees associated with the loan payment assistance?
No, members can skip a payment without incurring any fees when using the loan payment assistance program.
What is the maximum amount for the signature loans?
Members can apply for signature loans up to $3,000 or double their most recent net paycheck at a reduced rate.
What differentiates California Credit Union from other credit unions?
California Credit Union is recognized as a Forbes Best-In-State Credit Union and is dedicated to serving its community with various financial products, including services tailored for underserved areas.
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