As the coronavirus (COVID-19) situation has evolved rapidly over the past few weeks, Hiway is partnering with members to find solutions to ensure their financial health.
Since early March, when the World Health Organization (WHO) declared the outbreak a pandemic and various other government actions have been taken to slow the spread, Hiway has created relief measures for members and business members who are experiencing financial distress. Some of these include extended loan payment deferments (Skip-a-Pay), debt restructures, low-interest emergency loans, and fee waivers for hardship scenarios, along with many other potential avenues of assistance.
The pandemic, and resulting economic consequences, has also prompted Hiway to look at other potential improvements and offerings that may help members facing hardship now and, in the future, according to Dave Boden, President/CEO.
“As a not-for-profit credit union, we have long been committed to working with members along their ‘road of life,’ even – or maybe especially – when that road gets difficult,” said Boden. “Situations like this speak to our core purpose of people helping people, and we encourage anyone negatively affected by the pandemic to reach out to us; we’re honored to explore ways we might assist.”
Those affected by the pandemic may be able to utilize the following options, as well as others, from Hiway:
- Skip-a-payment on Hiway loan(s)
- Potential modification, consolidation or refinance on Hiway loans
- Emergency, low-rate hardship loans
- Fee waivers for hardship situations
- Free financial reviews with investment professionals
- Credit counseling services via LSS
- Certificates, a safe place for dollars during this period of market volatility
Contact our member service associates at 651.291.1515 or 800.899.5626 to learn more or visit hiway.org for more information.
