Salmon Arm Savings and Credit Union announced a payment relief program for customers feeling the financial pinch of the COVID-19 crisis on April 6, 2020. (Contributed)

SASCU offers payment relief for customers impacted by COVID-19 crisis

Salmon Arm Savings and Credit Union rolls out mortgage deferral options

Relief is available for Salmon Arm Savings and Credit Union customers feeling the financial pinch of the COVID-19 crisis.

On Monday, April 6, the Shuswap-based financial institution announced the launch of its Payment Relief program, created, in the words of SASCU CEO Barry Delaney, to help families and businesses who are experiencing financial hardship as a result of the virus.

““We strive to be our members’ life long financial partner — which is why, in challenging times such as these, we continue to be there for them,” commented Delaney in a related SASCU release.

Read more: Shuswap residents invited to show white heart in support of health-care workers

Read more: Business outlook soft even before shock of COVID-19, Bank of Canada says

The program include mortgage deferral options for up to six months, as well as increased flexibility for existing or new lines of credit to meet cash-flow demands of personal and business members.

“By removing the ‘business-as-usual’ requirements of applications and signatures, we were able to accelerate a remedy for our members’ financial distress,” commented SASCU vice-president of operations and strategy Ken Hawrys.

SASCU members interested in the payment relief program are asked to call 250-832-8011.

To learn more about SASCU’s response to COVID-19, visit sascu.com/COVID-19.

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