Baltimore, Maryland (March 23, 2020) — SECU, Maryland’s largest credit union, announced today that members who have been negatively impacted by the COVID-19 outbreak are eligible for comprehensive financial relief benefits, which include financial relief loans, credit card payment deferrals, financial consultative support and educational resources. The effort reflects the nearly 70 year commitment of SECU to make a positive contribution to the members they serve.
“Taking care of our members is at the heart of who we are as a company, it’s in our DNA,” said Dave
Sweiderk, president and CEO of SECU. “That’s why we continue to stand by the decision to lead by
heart, even through challenging circumstances. We have a responsibility to our members, which is why
we want them to understand we are in this together. Their health, safety and financial security is of the
utmost importance to us.”
Effective immediately, SECU has added a form for financial hardship requests on its website, for those
members who need to request modifications to credit terms. In addition to fulfilling hardship requests,
SECU is offering up to 60-month term relief loans with interest rates that are up to 6% below current
SECU members also have the option to skip their SECU Visa Credit Card payment for the next three
months. During this time, interest will accrue, but members’ credit will not be impacted and they will not be charged any late fees. All members will also be able to receive free consultative support via phone to
discuss their unique financial wellness needs and potential solutions.
To limit exposure risk members are strongly encouraged to use SECU’s online and mobile banking
services for quick and easy access to banking tools. SECU is offering members educational resources on
how to use mobile and online banking tools more effectively, to do things like pay bills, deposit checks,
make person-to-person payments, transfer money, access budgeting tools, set savings goals and more.