Ent Credit Union sent a letter to its members Saturday saying the company would be eliminating fees, reducing loan rates and launching emergency loans to help ease financial and emotional stress for its members during the coronavirus crises.
“Until further notice, we are suspending or drastically reducing fees,” said Chad Graves, Ent CEO. “This includes eliminating fees for excessive transactions for savings and money market accounts, minimum account balances, Skip-A-Pay and credit card usage for loan payments. Our overdraft/non-sufficient funds fees are now just $0.01. And we are also waiving early CD withdrawal fees to help members access their money for immediate needs.”
The credit union is also offering long- and short-term emergency loans of $1,500 to $10,000 with a 0.00% to 5.99% annual percentage rate.
Members who've lost income and are struggling to make their mortgage payment should reach out for help and won't be charged late fees or have their credit impacted during this crisis, said the CEO.
“They just need to talk to us. We’re here to help.”
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