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NAFCU's Ramsay in MONEY: 'Credit unions have always been there for their people'
As many Americans work to manage their personal finances amid the coronavirus pandemic, NAFCU Vice President of Communications and Media Relations Jacqueline Ramsay noted credit unions' strong reputation of stepping up for their members in an interview with MONEY.
“If you look back at any natural disaster, government shutdown and now during coronavirus, credit unions have always been there for their people – even before the government or the Fed asks them to be,” said Ramsay.
Since the coronavirus pandemic began, credit unions proactively began offering their members skip-a-pay options, fee waivers, low or no-interest loans, loan modifications, no interest accruals, drive thru services, and other beneficial financial solutions to their members.
“They don’t wait for a regulatory policy or a call from a Congressperson on the Hill to say, ‘Hey, I need you to help the people.’ They already have plans in place,” added Ramsay.
The stark difference between credit unions’ member-centric approach and their counterparts in the financial services industry demonstrates why 120 million Americans are members of a credit union. NAFCU believes deeply in the credit union mission and will continue to tout the industry’s goodwill and accomplishments at every turn.
You can read the full MONEY article here.
To ensure credit unions are able to effectively get through and recover from the coronavirus pandemic, NAFCU is offering a landmark virtual event – the State of the Industry – June 25. Credit unions will learn more about how the industry has responded to the pandemic, how they can offer better products and services to support members, and strategies for the future. Learn more and register here.