CONCORD, NH — While the state is under a stay-at-home executive order from Gov. Sununu, New Hampshire’s credit unions continue to provide essential financial services to their 735,000 members across the state. As they have always done in difficult economic situations, credit unions are offering financial hardship programs to help their members weather these unprecedented circumstances.
During this COVID-19 crisis, New Hampshire credit unions are creating new programs that meet their members’ changing needs, including:
- Low-interest loans (often up to 12 or 24 months)
- 60-90-day deferments on loan payments
- Refinancing options on mortgages
- Waived fees for early withdrawal on certificates
- Waivers on checking account overdraft fees
- Skip-a-Pay programs on auto and home loans and credit cards
- Mortgage and home equity payment relief
- Emergency hardship loans
- Increased credit limits
- Extended due dates on collections
“New Hampshire’s credit unions serve as the financial first responders for consumers and businesses in a crisis such as COVID-19. They are stepping up to meet all their members’ needs, providing hardship loans, deferring loan payments, waiving fees and offering much needed financial counseling. Extraordinary times call for extraordinary service which is what New Hampshire credit unions provide each and every day” said Ronald McLean, President/CEO of the Cooperative Credit Union Association, which represents New Hampshire’s 14 credit unions.
About the Cooperative Credit Union Association
The Cooperative Credit Union Association is a regional trade organization serving as the voice for 200 credit unions located in the States of Delaware, Massachusetts, New Hampshire, and Rhode Island. In New Hampshire, there are 14 credit unions who hold combined assets of nearly $9 billion and a collective membership base of 735,000 consumers. Annually, New Hampshire credit unions provide their members with $100 million in direct financial benefits. To date, New Hampshire credit unions have contributed nearly $3 million to Make-A-Wish New Hampshire. For more information, visit www.ccua.org.
