TALLAHASSEE, Fla.–The League of Southeastern Credit Unions has compiled a list of the type of assistance credit unions in Alabama, Florida and Georgia have provided to help members through the financial realities of the COVID-19 pandemic.
The results were collected on Dec. 14, with 32% of the association’s member CUs responding.
“This was a trying year for everybody – but credit unions in Alabama, Florida and Georgia worked hard throughout this unprecedented time to help their members afford their everyday lives,” said Patrick La Pine, CEO of LSCU. “At the league, we are so proud of the efforts of our member credit unions. I’m proud to be able to spread the word about the good work they’ve done during the COVID-19 pandemic and beyond.”
According to LSCU, its COVID-19 Member Engagement Surveys found:
- Credit unions in Alabama, Florida and Georgia have granted at least 2,715 mortgage loan forbearances and extensions for a total of $306 million.
- Credit unions in the three states have granted at least 366 commercial/business loan forbearances/extensions for a total of $129 million.
- Credit unions in the three states have granted at least 41,306 consumer loan payment extensions for a total of $467 million.
- Credit unions in the three states have granted at least 3,283 SBA Payroll Protection Loans that are SBA approved/guaranteed for a total of $140 million.
- Credit unions in the three states have granted at least 2,463 low-rate emergency loans for a total of $4.8 million.
- Credit unions in the three states have granted at least 24,128 fee waivers for a total of $375,941.
- Credit unions in the three states have donated at least $338,349 and 1,195 volunteer hours to 134 charitable organizations.