With wildfires and windstorms still raging, the California Credit Union League and Southern California credit unions are offering immediate and direct financial relief to members affected in the Los Angeles region.

“Credit unions are deeply committed to supporting their members and communities by offering immediate financial relief,” said Scott Simpson, president/CEO of the California Credit Union League. “Many of our credit unions are providing direct assistance and long-term recovery options — including mortgage forbearance and flexible payment options — to ensure Southern Californians can focus on rebuilding without the added burden of financial worries.”

The California League is working in partnership with Gov. Gavin Newsom’s office to provide streamlined credit union processes for mortgage payment forbearance periods to give a temporary suspension or reduction or mortgage payments for affected homeowners, as well as other forms of financial relief.  For credit unions across Southern California that serve the Los Angeles area, relief options offered to affected members also include: 

• Loan forbearance: Extending forbearance options to other types of loans, including personal loans and auto loans;
• Loan extensions: Granting extensions on existing loan terms to provide financial flexibility;
• Emergency loans: Providing access to immediate funds for essential needs like temporary housing, food, and clothing; and
• Fee waivers: Eliminating fees for services such as ATM withdrawals, overdraft charges, and late payment penalties.

Wildfire recovery efforts are supported by credit union community foundations and the National Credit Union Foundation’s CU Aid, which provides crucial emergency grant support for credit union employees and volunteers so they can continue to serve their members and communities.