Credit Unions Continue to Provide Essential Banking Services and Case-by-Case Financial Relief Measures to Their Members Across CanadaMarch 18, 2020
Canada’s credit unions are continuing to take the right steps to provide essential banking services to their members while also supporting the nation’s public health efforts to combat the COVID-19 virus.
Credit unions have a decades-long history of helping their members during times of need through a range of financial relief measures. As this crisis unfolds, credit unions are staying true to their member-focused mission by encouraging members to get in touch if they are experiencing financial hardship so that they can provide help on a case-by-case basis.
“This is a rapidly evolving situation and public health concerns must be paramount as we look to continue serving our members and their communities safely,” said Martha Durdin, President and CEO of the Canadian Credit Union Association (CCUA). “Putting people first is at the heart of the credit union mission and never has this been more important than now. We are ready to help our members with their banking needs as we work together to address the challenges posed by the COVID-19 crisis in every corner of our country. ”
Public health measures already taken by Canada’s credit unions to protect members, employees and their communities include:
- Advising staff to stay home if they are feeling unwell and to self-isolate themselves for 14 days if they have recently travelled outside of Canada.
- Increasing the frequency of cleaning and disinfection of branches and ATMs and making alcohol-based hand-sanitizer readily available to members as supplies permit.
- Social distancing strategies in support of public health such as reducing branch hours or temporarily closing certain branches to protect members, and to keep employees who are providing essential services to Canadians safe while they work.
Credit unions continue to support members with essential access to banking:
- Ensuring credit union ATMs, online banking, mobile banking and telephone services remain available for members to access credit unions’ award-winning customer service.
- Redeploying employees as appropriate to call centres to protect staff and also respond to anticipated increased call volumes and member requests.
- All of Canada’s 230+ credit unions remain committed to communicating transparently with members around any changes to banking hours or branch availability.
Addressing the financial challenges of the COVID-19 crisis:
“Canada’s credit unions are dedicated to supporting members in their time of need,” said Ms. Durdin. “As the preferred destination for many of Canada’s small and medium-sized businesses especially, we are deeply aware of the potential financial hardship this crisis may cause for those members in addition to our individual members and their families.”
As the voice of Canada’s credit union system, CCUA understands that credit unions are uniquely responsive to their members’ needs. Credit unions have a long history in Canada of helping their members and as this crisis has unfolded, they continue to encourage members to get in touch if the crisis is making meeting financial obligations challenging.
“Credit unions across Canada and their employees continue to step up to ensure their members and communities are safe and their need to access vital financial services are being met,” added Ms. Durdin. “We are proud of our strong tradition and mission and if we all work together, we can get through this to a brighter future.”
About Canadian Credit Union Association
Canadian Credit Union Association is the national trade association for Canada’s credit unions and caisses populaires outside Quebec. These financial institutions offer a full range of retail banking services to over 5.8 million Canadians. Collectively Canada’s over 230 credit unions generate over $6.5 billion in economic impact, are leaders in small business lending, and have assets of over $247 billion. To learn more about the credit union difference and find a credit union near you, visit www.ccua.com.
Canadian Credit Union Association
647-327-8099 or 416-592-0696