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Credit Union Pauses Loan Due Dates for All Members for 90 Days In Response to Global Health Crisis

Credit Union Pauses Loan Due Dates for All Members for 90 Days In Response to Global Health Crisis
Chief Financial Credit Union to Pause Loan Payments for 13,000 Loans
 
(March 26, 2020 - Rochester Hills, MI -) In times of crisis, true community partners emerge. Chief Financial Credit Union, headquartered in Rochester Hills, MI, has spent decades becoming a true community partner. During this global health crisis, Chief is taking the lead to assist more than 13,000 individuals by pausing all loan payment due dates for the next 90 days.
 
“Every single loan, for every single member, in good standing will not be billed for 90 days. We are all in this crisis together, and we have to do everything we can to support each other,” says Tom Dluzen, Chief Financial President & CEO. “This is a time for bold action. We will continue to do our part to ease the effects of this crisis. If we need to go into each and every account manually and hit the ‘pause’ button for 90 days, that is what we will do.”
 
Starting Tuesday, March 24, the Chief Financial team will be adjusting loan due dates, and plans to have all loans paused by the end of March. The Credit Union has also taken bold steps over the course of the past weeks to ensure employee and member safety. Employees that were able to work from home, were empowered to do so in new and innovative ways.
 
“The leadership team has been meeting at least once per day to discuss what we can do to ensure the safety and wellness of our team and members,” said Cheryl Boodram, Chief Financial Vice President of Marketing & Sales. “We were able to get the majority of our team set up remotely in less than a week and transitioned all branch services to online or drive-thru. In such an uncertain time, we want the community to know that every single one of you is important to us, and together is the only way we will get through this!”
 
Chief Financial’s bold step to postpone loan due dates for 90 days aligns with its corporate vision. "More than money" is not just a tagline. It is the company culture that Chief has created and the fuel that drives its mission. Chief boldly aims to be forever remembered for the good we did, the chances we gave, the opportunities we created and the lives we changed.
 
Chief believes:

  • Worth is not only measured with a dollar sign
  • Value has little to do with a bottom line
  • We can change the world one person at a time
 
 Chief Financial Credit Union is the only financial institution headquartered in the Greater Rochester Area. With a commitment to empowering financial success and inspiring creative philanthropy, Chief Financial has been meeting the needs of its members since 1941 through its branch locations in Pontiac, Dearborn and Rochester Hills, Michigan. Chief Financial is also the official credit union of Leader Dogs for the Blind and Rochester University. For more information, visit www.chiefonline.com.

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