The Communal Credit Union is taking measured, proactive steps to ensure it manages member relations in light of the COVID-19 threat.
The Credit Union’s General Manager, Lydia Courtney-Francis says they have observed the mounting expenses incurred by members as a result of Covid-19, including the purchasing of extra food, medication & other supplies needed, to safeguard members and their families from the virus.
She observes that businesses have been closing their doors, jobs have been lost or put on hold, and this development has been impacting the financial well-being of members.
Mrs. Courtney-Francis proposes: “We have seen your position and decided to help you through this difficult time by making money available to you our members. However, we are urging our members to exercise financial prudence and do not withdraw excess cash or access financing for which you do not have an immediate need.”
Communal says it is offering: a Line of credit loan to support day to day need; loan moratorium for existent loans; and a 3-month grace period on all new loans disbursed during this period in the first instance. The Communal says it would be contacting all pertinent members to check in on their financial situation.
The Manager is also impressing on members to take advantage of CCCU’s ATMs for withdrawals and deposits and deposit boxes for documents and deposits. Members are further encouraged to use the debit card for shopping at local merchants.
Members are also encouraged to take full advantage of online services where they can still apply for loans or sign up for online banking as well as check their transaction history and send money to other members. Where possible, they can pay loans online as well.
The Manager encourages members to use these facilities at this time and refer only to the website and social media pages, for official information from Communal. She says in communicating risk, getting through the crisis is inclusive of members’ voice and all decisions have been made on the best available evidence and with the members and the public interest in mind.
Members can send feedback at email comcreditunion@thecommunal.cu so CCCU can address concerns where feasible.
