California Credit Unions remain supportive of Governor Newsom’s partnership to waive fees and provide mortgage assistance for those impacted by the COVID-19 outbreak

As you may be aware, California Credit Unions were and remain supportive of Governor Newsom’s partnership to waive fees and provide mortgage assistance for those impacted by the COVID-19 outbreak. To that, credit unions are beginning to provide us (their trade association) with specifics on the volume of loan forbearances, extensions, and fee waivers. The below chart is just those that have reported data as of 4/1. Many credit unions are yet to respond and this can be updated at your request.

Additionally, some of these credit unions have provided details on programs they are offering their membership. Many of them can be viewed on our central website (for all states) at this link: Americas Credit Unions .

Paycheck Protection Program

Today marks the beginning of the PPP. Credit unions are able to process and provide these small business loans/grants. However, Treasury only released interim-final guidance yesterday afternoon, and some questions still remain. If you or the Member have specific questions about credit union participation, please feel free to contact me. Within a week or two we plan to have numbers to share.

PAYCHECK PROTECTION PROGRAM

• Washington Post—Redwood CU mentioned (April 3) https://www.washingtonpost.com/business/2020/04/02/federal-small-business-loan-program-faces-rocky-start-bankers-pump-breaks/

• Fontana Herald News—Inland Valley FCU mentioned (April 9) https://www.fontanaheraldnews.com/business/fontana-credit-union-aims-to-help-local-companies-get-loans-through-paycheck-protection-program/article_4c1cd504-7a7a-11ea-bb3f-bbc4b96f72e1.html

• KCOY-TV/KEYT-TV—CoastHills CU PPP efforts (April 14) https://keyt.com/news/santa-maria-north-county/2020/04/14/coasthills-helps-small-businesses-get-federal-emergency-funding-for-coronavirus-impacts/

• Sacramento Bee—SAFE CU’s PPP efforts (April 16)   https://www.sacbee.com/news/business/article242053311.html

• Mercury News—Diana Dykstra quoted (April 17)   https://www.mercurynews.com/2020/04/17/for-community-banks-and-credit-unions-coronavirus-loans-could-be-their-big-moment/

• Daily Breeze—Kinecta FCU/Unify CU mentioned. (April 15) https://www.dailybreeze.com/2020/04/17/south-bay-small-businesses-need-help-during-coronavirus-community-banks-work-overtime/

• *San Diego Newspaper Group, CBS News 8 TV, San Diego Metropolitan—California Coast CU (joining forces with City and other companies to expand San Diego’s Small Business Relief Fund)  (April 14)  *not quite PPP related, but still deals with small business funding

SD Newspaper Group: http://sdnews.com/view/full_story/27724681/article-City–major-companies-launch-new-fund-for-small-businesses?instance=sdnews_n_page

CBS 8: https://www.cbs8.com/article/news/local/mayor-faulconer-announces-over-300000-in-private-donations-launch-new-effort-to-help-small-businesses/509-4f6abcae-e206-45b3-930c-1aef5139a44d

San Diego Metropolitan: http://www.sandiegometro.com/2020/04/daily-business-report-april-15-2020/

Nevada

• KTVN TV , This is Reno, N orthern Nevada Business Weekly , The Record Courier —Greater Nevada CU’s PPP efforts (April)

KTVN: https://www.ktvn.com/story/42009324/greater-nevada-credit-union-accepting-ppp-loan-applications-from-all-small-businesses

This is RENO: https://thisisreno.com/2020/04/greater-commercial-lending-an-sba-paycheck-protection-program-preferred-lender-sponsored/

Northern Nevada Business Weekly: https://thisisreno.com/2020/04/greater-commercial-lending-an-sba-paycheck-protection-program-preferred-lender-sponsored/

Record Courier: https://www.recordcourier.com/news/local/douglas-urges-business-to-complete-coronavirus-impact-survey/

HELPING MEMBERS

• The Financial Brand—Golden 1 CU and Travis CU mentioned—assistance programs (March 26) https://thefinancialbrand.com/94239/coronavirus-crisis-covid19-sarscov2-marketing-loan-fee-relief-debt-skip-pay/

• Napa Valley Register—Redwood CU—assistance programs (March 26) https://napavalleyregister.com/business/biz-buzz-redwood-credit-union-offers-assistance-programs-and-donation-to-covid-19-relief-efforts/article_bf476aec-a5e7-5111-941a-f1c086074def.html

• Redheaded Blackbelt Publication—Vocality CU, Coast Central CU, Compass CU mentioned—assistance programs (March 26) https://www.ccul.org/images/uploaded_docs/2020/COVID-19-RHBB-article-Vocality3-26-2020.pdf

• KSRO-FM—First Community CU, First Tech FCU, North Bay CU, Patelco CU, Redwood CU—services provided (March 27)   https://www.ksro.com/2020/03/27/local-banks-adjust-to-coronavirus-outbreak/

• Vista Press—Frontwave CU—assistance programs (March 27) http://www.thevistapress.com/frontwave-credit-union-supports-members-during-coronavirus-crisis/?__cf_chl_jschl_tk__=2cb284979dc3451e492571f628be116b27661f85-1587416794-0-AY2ghg4yuV4vGRH3R2wbOGEjae7uFdgP1Su16WCEjRAKhQsvQmN_Jw7E_5gxGx_mOSoPJV8Bgf-gj9qgXhOkIpaIkqXzeBykXYDv0qRtfHP-0qPuyiByhkt97k5GlvennlJllxWV50Gk8AtMs41sQStVFRHLSjX2TokWxIlusKZWQC9fuLhgE_DjNdiYPbFfQ5FtJ9ueHonwms6oiWgIguqfKJBQT7zhsfgEEl1jdGqqySEB2_9a3IJqU1kIMQdv4AyRSqsfQReTEjDQspQUXEzGcJWNQYJ8PTKbzyl6ED7MYT-GY0LUvasAS93Ymxcgs94MAWn7MTewtblz7TGhLxF8d8AArkJXp1YXsVn_kzCY

• KSRO-FM—Redwood CU—assistance programs (March 27) https://www.ksro.com/2020/03/27/interview-brett-martinez/

• Nevada Public Radio—Diana Dykstra—assistance programs. ( April 1 )   https://knpr.org/knpr/2020-04/gov-sisolak-orders-lenders-work-customers-during-covid-19-emergency

• Half Moon Bay Review—San Mateo CU mentioned—mortgage forbearance program (April 6) https://www.hmbreview.com/news/mortgage-relief-available-for-california-homeowners/article_d03cf2ca-7844-11ea-8367-8347717b2808.html

• CNBC—CBC CU mentioned—assistance programs (April 14) https://www.cnbc.com/2020/04/14/these-banks-offer-coronavirus-relief-for-those-who-cant-pay-bills.html

HELPING THE COMMUNITY

• KFRG FM—Altura CU—safety and soundness of credit unions/financial institutions and how consumers can avoid scams. (March 27) https://kfrog.radio.com/media/audio-channel/no-need-to-hoard-cash

• KCBX-FM— SESLOC FCU— safety and soundness of credit unions/financial institutions and how consumers can avoid scams. (March 27) http://cms.homefrontdc.com/media/040120/video/KCBX-FM_SanLuisObispo_032720.mp3

• KVCR-FM— Altura CU— safety and soundness of credit unions/financial institutions and how consumers can avoid scams. (March 31) http://cms.homefrontdc.com/media/040120/video/KVCR_Riverside_033120.mp3

• Napa Valley Register and Vacaville Reporter—Travis CU—$1 million donation to community organizations for COVID relief (April 8)

https://napavalleyregister.com/business/biz-buzz-travis-credit-union-selects-napa-county-organizations-to-receive-1-million-for-covid/article_56c0b36d-0fc7-5d23-9dc6-acc1fc6af14f.html

https://www.thereporter.com/2020/04/08/coronavirus-travis-credit-union-donating-1-million-to-community-partners-for-coronavirus-relief/

  KMUD News—Vocality CU—consumer use of stimulus checks (April 17) https://soundcloud.com/kmudnews/irs-relief-fund-info-financial-advice

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