Ent Credit Union sent a letter to its members on Saturday saying the company will eliminate fees, reduce lending rates and launch emergency loans to help relieve financial and emotional stress for its members during the coronavirus crisis.
“Until further notice, we are suspending or drastically reducing fees,” said Chad Graves, CEO of Ent. âThis includes the elimination of fees for excessive transactions for savings and money market accounts, minimum account balances, Skip-A-Pay and the use of credit cards for loan payments. Our overdraft fees / insufficient funds are now only $ 0.01. And we’re also waiving early CD withdrawal fees to help members access their money for immediate needs.
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The credit union also offers long and short term emergency loans of $ 1,500 to $ 10,000 with an annual percentage rate of 0.00% to 5.99%.
Members who have lost income and are struggling to make their mortgage payment should seek help and will not be charged late fees or have their credit affected during this crisis, the CEO said.
âThey just need to talk to us. We are here to help you.
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