Smart Financial Provides COVID-19 Relief to Members
HOUSTON, Aug. 6, 2020 /PRNewswire/ -- Smart Financial Credit Union is dedicated to helping members, even more so throughout the challenging economic times caused by the COVID-19 pandemic. When local and federal authorities decided to close the economy, Smart Financial knew many of their members would feel the impact financially and need assistance in the coming months. The credit union immediately stepped in, helping members with a COVID-19 Relief Solution program.
Beginning April 1, 2020, Smart Financial began automatically deferring loan payments and waiving late fees for members. Consumer loan payments were automatically deferred for 60 days while Mortgage and Home Equity payments were automatically deferred for 90 days. Smart Financial maintained personalized service by reaching out to each member with a commercial loan by phone, extending 60 days deferrals as requested. "We wanted to be proactive with our members and let them know we are in this together. We also did not want our members' credit to be affected negatively," said Larry Seidl, CEO of Smart Financial. Smart Financial continues to work with members to this day by offering financial health checkups to any member that may be experiencing continued financial hardship.
Furthermore, fees were waived to ease the burden on members throughout April and May, including free Call Center transactions to assist with temporary branch closures and limited hours. Smart Financial increased the Discretionary Overdraft Program limit and reduced associated fees to help those members who did not have immediately available funds.
Throughout the pandemic, Smart Financial has strived to keep branch doors open, while always taking the necessary precautions to protect the health and safety of members and employees. The credit union continues to offer the same personalized service that members have been accustomed to receiving since 1934.
Smart Financial's COVID-19 Relief Solutions were part of their ongoing Heart of Smart initiative designed to give back to members and their communities. For more information about Smart Financial Credit Union, or the Heart of Smart initiative, please reach out to the media contact listed here, visit www.smartcu.org/community/media or connect with Smart Financial on Facebook, Instagram and Twitter.
ABOUT SMART FINANCIAL
Smart Financial Credit Union has focused on people, not profits since 1934. With 16 locations in Greater Houston, Smart Financial is a state-chartered credit union that is owned and operated by its members. Smart Financial provides a full range of financial services to more than 71,000 members. For more information, visit www.smartcu.org or engage with Smart Financial Credit Union on Facebook, Instagram, and Twitter.
Contact: Corbin Wilson, 713-407-1913, [email protected]
SOURCE Smart Financial Credit Union
Share this article