In our continuing efforts to assist members who face hardships due to COVID-19, Salal Credit Union is rolling out the Emergency Relief Program. This program will be available from April 1, 2020 through October 31, 2020.
What is the Emergency Relief Program?
The program is designed to provide financial relief to existing Salal members who have been negatively impacted by the COVID-19 outbreak.
Emergency Relief Program Features
- Waived overdraft/non-sufficient funds fees each month through July 31, 2020, then automatically refund the first 3 overdraft/non-sufficient funds fees per month (with no rollover) on every checking account a member is a signer on. Find out more about standard Overdraft Protection Options.
- Waive late fees charged during this period on every loan a member is responsible for.
- Skip up to three consecutive payments every six months for eligible loans. Skip-a-Pay processing fee waived for all skipped loans*.
- Report all Salal loans a member is a signer on, and that the credit union has made accommodations on during this period, as paid as agreed and current to all credit agencies.
Emergency Relief Program Eligibility
Eligibility for the COVID-19 Emergency Relief Program includes members in good standing prior to April 1, 2020 that are unable to work (or unable to telework) due to the following reason(s):
- Experiencing unemployment (either the member or their spouse/domestic partner) or a reduction of more than 25% of their or their spouse/domestic partner’s hours and/or wages due to Federal, State, or local quarantine or isolation order related to COVID-19.
- Diagnosed with or experiencing COVID-19 symptoms and seeking a medical diagnosis.
- Caring for an individual experiencing COVID-19 symptoms.
- Caring for a child or family member whose school or place of care is closed (or provider is unavailable) for reasons related to COVID-19.