More than 475,000 Californians Receive Assistance by Credit Unions During Economic Fallout Due to Coronavirus

This week’s new numbers just released

Since California has issued its “stay-at-home” order, the state’s credit unions have provided hundreds of thousands of their members relief from mortgages, auto loans, credit card payments and business loans.

In a just released new survey of member credit unions of the California Credit Union League, the trade association for credit unions in the state, many indicate that in addition to collectively funding $491 million in business loans with Paycheck Protection Program (PPP) funds:

  • 18,504 mortgage payments have been extended
  • 469,722 consumer loans (auto and credit card) have been extended
  • 475,000-plus total members have been assisted 

 

For examples of how local credit unions are serving their members, please contact Tina Ramos-Ingold, media relations specialist with the California Credit Union League, at tinar@ccul.org or 909.212.6050.