Disaster relief – The credit union way

On July 9, 2019, the five-county area surrounding Kearney, Nebraska experienced unprecedented flooding.  The flooding affected several Trius Federal Credit Union members, employees and even one of their branches.  Being proactive, Trius immediately went to work implementing a Disaster Relief Program for their members. Dee Schriner, CEO at Trius, knew that this Disaster Relief Program was not just a decision for Trius but for all of their credit union partners.

Over the last few years, Trius FCU successfully launched a loan participation program with LoanStreet to help manage their liquidity plans and concentration risks.  The program has been incredibly effective which also means that many of their members’ loans are not just held by Trius FCU but other credit unions across the country.

With the Disaster Relief Program established, Dee contacted LoanStreet representatives who immediately crafted a letter agreement covering the terms of the program for each participating credit union.  And, in the tradition of people helping people, each participating credit union approved the Disaster Relief Program to support Trius FCU’s members.

The Disaster Relief Program amended Trius’s lending and collection policies, providing a variety of options to meet nearly as many needs as possible.

 

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