VACAVILLE, Calif.–Travis Credit Union has announced it will match up to $4 million for donations made to the Travis Credit Union Foundation, while separately announcing an immediate $1-million philanthropic initiative that will be disbursed amongst multiple local organizations across five counties.
In both cases, the funding is to go toward addressing immediate public health and long-term economic challenges as a result of the COVID-19 pandemic. A total of 96 non-profits as well as small businesses in the counties of Napa, Solano, Contra Costa, Merced and Yolo will receive checks, the credit union said.
According to Travis Credit Union, funds will support many efforts, including:
- Frontline organizations that are providing direct service, such as food banks, shelters, family resource centers and school districts, as well as nonprofits and organizations focused on supporting critical populations, including homeless, foster youth, LGBT and Latino individuals
- Non-profits that support small businesses, including those who serve their community all year through economic development assistance, will receive aid in sustaining the mitigation of the pandemic for the opportunity to recover when the crisis subsides
Travis CU said many of the organizations receiving aid are existing non-profit community partners that have already aligned with the credit union to serve its members by providing free financial education opportunities as well as those providing essential services throughout the year.
Support for ‘Most Vulnerable’
“We are showing up to support the most vulnerable in this time of crisis,” said Barry Nelson, president and CEO of Travis Credit Union. “We are making immediate investments to support the organizations who are in the business of people helping people, and we are here, as we have been for nearly 70 years, to serve our community. Credit unions are built for times like this.”
The organizations receiving funds will not receive advance notice. TCU said it is planning on delivering as many of the checks as possible “remotely.”
“TCU plans on continuing to be a safe harbor – a community financial institution that values and truly cares about our neighbor’s financial needs and well-being,” said Nelson. “To that end, and with the generosity of foundation partners, TCU will match up to $4,000,000 through the Travis Credit Union Foundation.”
Support for Members
For its members, Travis has separately announced it is waiving fees on transactions at non-CO-OP Network ATMs, on overdrafts, on skip-a-pays, and on credit card late charges. It is also offering mortgage payment forbearance, has a disaster relief loan program that allows a member to borrow up to $10,000, and is offering relief to small businesses.
Travis CU has created a video about its efforts here.
ORNL Intro's Special Offers for Healthcare Professionals, First Responders
Separately, in Oak Ridge, Tenn., ORNL Federal Credit Union is offering healthcare professionals and first responders exclusive home and auto loan refinancing discounts.
In addition to healthcare professionals, the “Hero Loan Program” is available to EMTs, active military personnel, fire and rescue workers, utility line workers, and law enforcement officers.
The program offers:
- Home Loan Refinancing & Home Equity Lines of Credit. ORNL FCU said it will waive origination fees (typically 1% of the loan amount) for those wanting to refinance a current mortgage or open a new HELC.
- Auto, Boat, and RV Refinancing. A .25% discount will be applied to an approved rate when refinancing an auto, boat, or RV loan from another financial institution. In addition, those who refinance will receive up to 1% cash back (up to $500) and can take up to 90 days to make their first payment.
Other Officers
ORNL FCU noted it also continues to offer the Pandemic State of Emergency Loan for all members impacted by COVID-19. Members can apply for an unsecured loan at a fixed 0% APR for the first six months and a fixed 3% APR for the remainder of the loan term. The special rate is available to existing ORNL FCU members (of at least 90 days) who meet specific qualifications. It offers a maximum term of 48 months and members can take up to 90 days to make their first payment.
Small businesses may also qualify for this loan program, the credit union said.
The $2.3-billion ORNL FCU has more than 173,000 members.