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HOUSTON, August 6, 2020 / PRNewswire / – Smart Financial Credit Union is committed to further helping its members in the difficult economic era caused by the COVID-19 pandemic. When the local and federal government made the decision to shut down the economy, Smart Financial knew that many of its members would feel that the money would have an effect and would want assistance in the months to come. The credit union intervened without delay, helping members with a COVID-19 emergency 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.
In addition, fees to ease member burdens in April and May were waived, adding loose transactions from call centers to help with transitional branch closures and restricted hours. Smart Financial increased the restriction of the discretionary overdraft program and reduced the rates related to un budgeted assistance members available.
Throughout the pandemic, Smart Financial has worked to keep branch doors open, while taking mandatory precautions to protect the fitness and protection of members and employees. The credit union continues to offer the same personalized service that its members have been accustomed to receiving since 1934.
Smart Financial’s COVID-19 support responses were a component of its Heart of Smart initiative to give back to members and their communities. To learn more about Smart Financial Credit Union or the Heart of Smart initiative, tap the indexed media touch here, www.smartcu.org/community/media or attach it 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 member-owned credit union authorized by the state operated through them. Smart Financial offers a complete diversity of money to more than 71,000 members. For more information, stop at www.smartcu.org or tap Smart Financial Credit Union on Facebook, Instagram, and Twitter.
Contact: Corbin Wilson, 713-407-1913, [email protected]
View content to download media: http://www.prnewswire.com/news-releases/smart-financial-provides-covid-19-relief-to-members-301107912.html
SOURCE Smart Financial Credit Union