ALEXANDRIA, Va.–Democracy Federal Credit Union awarded a lucky member a $500 COVID-19 relief grant. The grant was awarded to Margarita Melendez.
“Thank you once again for this grant. I am so grateful to DFCU for all of the assistance. These funds will be very helpful to my family at this difficult time. Even before COVID-19, you have been there for us over the years,” said Melendez. “Thank you for being my financial partner for life.”
Democracy FCU announced the COVID-19 Relief Grant in late spring requesting that members submit an entry as to how they had been negatively financially impacted by the virus. More than 130 grant submissions were received. Democracy FCU said it carefully reviewed the grants before selecting Ms. Melendez as the winner.
“The entries were heartfelt and impactful,’ stated VP of Delivery Channels Mario Mejia. “It was an extremely hard decision to select one person to receive the funds. Everyone has been affected by the virus.”
Grant funding was intended to help relieve a small financial burden that COVID-19 has caused. Guided by the mission that we are all in this together, Democracy FCU not only award a $500 relief grant, but also donated 1,200 masks to local hospitals, $1,500 to food banks and $1,000 to area schools to offer support to our community during the global pandemic.
Democracy FCU said it is committed to financial freedom for all, and has already implemented several financial programs to help members combat the negative financial impact caused by COVID-19. These programs include a CASH-N-GO advance loan of up to $1,000 with no credit check, a National Event Short Term Loan of up to $6,000 for 24 months with rates as low as 7.24% APR* and a Skip-A-Pay program to help alleviate one month of auto and/or personal loan payments.