More Than 550,000 Assisted by Credit Unions in California During Economic Fallout Due to the Coronavirus

This week’s new numbers just released

 In response to the economic fallout due to the COVID-19 pandemic, credit unions in California have provided more than 550,000 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 $656 million in business loans with Paycheck Protection Program (PPP) funds:

  • 20,311 mortgage payments have been extended
  • 531,603 consumer loans (auto and credit card) have been extended
  • 2.8 million fees waived 

 

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.