Eight Oregon Credit Unions to Help State Distribute Emergency Funds
August 19, 2020
Tigard, Oregon (Aug.19, 2020) — No one escaped the impact of COVID-19, and for those who were hit financially, the pandemic dealt an especially tough blow.
The Oregon Legislature approved $35 million to provide one-time $500 relief payments to Oregonians facing those hardships. The state asked the private sector to help get that money into the hands of consumers who most need it, and eight credit unions agreed to lend a helping hand by distributing the funds.
“Credit unions are not-for-profit cooperative financial services providers, and put consumers’ needs first,” said Jennifer Wagner, Executive Vice President of the Northwest Credit Union Association. “Throughout the pandemic, as they always have, credit unions stepped up to offer flexible financial solutions to their members, from loan payment deferrals that helped families have money available to make ends meet, to Paycheck Protection Program loans that protected jobs. Once again, they are here to serve Oregonians.”
The credit unions worked closely with legislative leadership to develop the program logistics as quickly as possible. They are not accepting any fees from the state, ensuring that the funds set aside assist as many Oregonians as possible.
The program launched this morning and will continue as long as funding is available. Oregonians needing assistance should apply as soon as possible. They do not need to be credit union members.
To be eligible, a person must:
- Be a current resident of Oregon and 18 years or older.
- Be able to prove their identity and that they are an in-state resident.
- Attest that they are experiencing severe financial hardship directly or indirectly due to the Governor’s Stay Home, Save Lives executive orders.
- Have earned $4,000/month or less pre-tax prior to their income loss due to COVID-19.
- Not have received all unemployment payments they are owed.
Participating Oregon credit unions include:
- Central Willamette Credit Union
- Clackamas Federal Credit Union
- InRoads Credit Union
- Old West Federal Credit Union
- OnPoint Community Credit Union
- Oregon Community Credit Union
- Rogue Credit Union
- SELCO Community Credit Union
To find a participating financial institution with a location near them, consumers can visit the website established by the state. or dial 2-1-1 — a live operator will direct them to a location nearest their zip code.
The Northwest Credit Union Association is the trade association representing more than 175 not-for-profit, cooperative credit unions in Idaho, Oregon, and Washington, and their 7.3 million consumer members. As not-for-profit cooperatives, credit unions look out for their members’ financial well-being. Everyone should open their eyes to a credit union. For more information, please visit: https://yourmoneyfurther.com
Posted in News Releases.