CU SoCal's Financial Relief Initiatives
Credit Union of Southern California (CU SoCal) is stepping up to support its Members who are experiencing difficulties due to the ongoing government shutdown. In challenging times, CU SoCal is committed to offering assistance that embodies its core mission of putting people over profits.
Relief Options for Members
To help its Members regain stability amidst uncertainty, CU SoCal has introduced three main relief options:
1. Emergency Loans
This option provides quick and flexible loans that allow Members to manage essential expenses without added stress.
2. Loan Payment Deferrals
Members who find it difficult to make loan payments can benefit from temporary relief through deferments, easing their financial burden during this period.
3. Waived Early Withdrawal Penalties
With the ability to access funds from Share Certificate accounts without penalty, Members can effectively utilize their savings to navigate their immediate financial needs.
CU SoCal's Commitment to Its Community
Dave Gunderson, President and CEO of CU SoCal, emphasizes the organization's dedication to its Members. "At CU SoCal, we are here to build better lives for our Members and communities, especially in a crisis," he stated. This sentiment highlights the credit union's proactive approach to supporting families during the tumultuous period caused by the government shutdown.
How to Access Help
Members working for federal agencies affected by the shutdown can find valuable resources and assistance at CU SoCal. By visiting their dedicated page, they can learn more about applying for an emergency loan or obtaining personalized support from a CU SoCal representative. Additionally, Members can reach out by calling during business hours or visiting any CU SoCal branch for in-person assistance.
About CU SoCal
Established in 1954, CU SoCal has grown significantly from its origins as Whittier Area Schools Federal Credit Union. Currently, it serves individuals residing in Los Angeles, Orange, Riverside, and San Bernardino counties as well as in Lake Havasu City, Arizona through its affiliated institution, Havasu Community Credit Union. With over $3.6 billion in assets and more than 182,000 Members, CU SoCal is proud to maintain a five-star financial rating from BauerFinancial, reflecting its strong financial health.
Frequently Asked Questions
What relief options does CU SoCal offer?
CU SoCal provides emergency loans, loan payment deferrals, and waived early withdrawal penalties for affected Members.
How can Members apply for assistance?
Members can apply for assistance by visiting the CU SoCal website dedicated to shutdown help or by calling or visiting a CU SoCal branch.
Who is eligible for CU SoCal's relief options?
Members employed by federal agencies impacted by the government shutdown are eligible for the relief options offered by CU SoCal.
When can Members access these services?
Members can access CU SoCal's financial relief services during regular business hours at their branches or through their website.
What is CU SoCal's mission?
CU SoCal's mission is to build better lives for its Members and communities, especially in times of crisis by focusing on the needs of its Members.
