As I reflect on the past quarter, UCU has remained committed to our sole purpose of giving the university community a financial edge, especially during unprecedented times. As your trusted financial partner, we’ve had the unbelievable opportunity to advise and guide you through these times of uncertainty. With every bit of assistance made, we’re able to help you achieve a financial edge through attaining a higher quality of life via affordable transportation, home ownership, or increased opportunity for financial success.
Initiatives to Support our Members
In support of our University Communities and the members we serve, we created several innovative ways to help save our members money during these trying times. We lowered our rates on new consumer loans, waived various fees, granted forbearance on real estate loans for members affected by COVID-19 and increased personal lines and credit card limits for qualified members. We want to ease the burden and stress, so your focus can remain on your health, family and loved ones in your life.
New Loan Program to Assist our Business Owner Members
We understand that not only providing various initiatives to assist our members was vital during these times, we also realized it was imperative to provide new solutions to ensure our members who own businesses had as many options as possible to sustain their financial wellbeing. UCU introduced the Paycheck Protection Program (PPP), the Federal Relief program that was designed to help small businesses affected by COVID-19 keep their employees on payroll. With an overwhelming response, we’ve been committed to helping our members with small businesses get the assistance they need.
UCU Takes a Stand
It is with a heavy heart and many emotions that I address the recent national unrest in response to the racial inequality in our country. UCU stands in solidarity with those against injustice, violence and inequality. In order to stand together, we must stand up for one another, and recognize the long history of racial injustice, which still exists.
The very fabric of our university communities is constructed of students, professors and staff from different backgrounds, beliefs and walks of life. UCU has, and always will, help support those in the university community that have been historically underrepresented. Our support of minority scholarship funds to help ease the financial burden and provide education to those that may not otherwise have access to higher education, is just one small way UCU is participating in the change. As an organization, we want to take more meaningful and long-lasting actions to further the ideals of equality and justice, which is why we’re finding new ways to actively support the movement. UCU will roll out several initiatives in the upcoming months to further these causes.
Looking Ahead
The world has changed and the way business is conducted will continue to evolve and transform in significant ways, even after this pandemic has passed. UCU is prepared to meet the opportunities and challenges that come with these changes. For nearly 70 years, the UCU team has always been committed to your financial health, especially during challenging times. It’s a privilege to serve you, and I can’t express the gratitude UCU has for your loyalty and support. We will get through this together and I look forward to creating a better tomorrow together.