Clackamas Federal Credit Union Bolsters Member Support Amid COVID-19 Outbreak
March 18, 2020
Clackamas Federal Credit Union is taking preventative measures and offering financial relief to members who might be impacted by the novel coronavirus (COVID-19) outbreak. As COVID-19 begins to have an increased impact in Clackamas County, throughout the state, and across the nation, the credit union is taking action to keep members and staff safe while continuing to serve members.
Clackamas understands that these times might come with financial burden and hardship for their members, and is committed to bridging this gap in the following ways:
- The $25 fee to skip payments will be waived for members members who have not used a skip payment in 2020. Clackamas will allow three skip payments per year (on auto, motorcycle, RV, boat, and personal term loans) with no charges, not to exceed one every three months.
- To encourage social distancing, Clackamas is temporarily waiving several fees when members complete transactions without visiting a branch including: waiving the fee for paying loans online or by phone, for domestic wire and ACH transactions, and the fee on out-of-network ATMs.
- Overdraft and non-sufficient funds fees are temporarily reduced from $27 to $12.
- The $5.00 corporate check fee will be waived so members do not have to handle cash, as well as the Club Account withdrawal fee to allow easier access to needed funds.
- Clackamas has launched a new payday-alternative loan to help members quickly get the cash they need.
- Vehicle purchases or vehicle loans refinanced from another financial institution can have a first payment due date as far out as 60 days.
Clackamas is closely monitoring information from local, state, and federal health officials to ensure it is consistently acting within recommendations and guidelines from these agencies. In addition, the credit union is ensuring that its employees have the information and tools they need to stay healthy. Staff will be increasing the frequency in which surfaces are sanitized, hand sanitizer is applied, and hands are washed. Clackamas will also be providing additional paid leave to staff to allow them the time and flexibility they need to care for themselves and their families.
“We know this pandemic will have tremendous impact on our members for weeks to come,” said Clackamas President and CEO, Aaron Goff, “and we are committed to providing the service and help they need to ensure their continued health and well-being.”
Posted in Cooperative Development.