fbpx

California Coast Credit Union COVID-19 Response

California Coast Credit Union COVID-19 Response (as of 4/14/2020)

During these uncertain times, California Coast is committed to help and protect our members, our employees and our community. We standby and support each with strength and determination.

ABOUT US: Established by local teachers in 1929, California Coast Credit Union is the longest-serving financial institution in San Diego. With over $2.7 billion in assets, the credit union now proudly serves 200,000 members through its local network of 26 branches and 60 shared branch locations, online and mobile banking, and 30,000 fee-free ATMs nationwide. California Coast is not-for-profit, provides no-cost financial education, and is committed to improving the lives of its members and others in the community. www.calcoastcu.org
Loan Deferments
• Consumer Loan Payment Deferment (60-days) – 112,295 loans for over $1.1 billion in balances
• Mortgage and Home Equity Payment Deferment (90-days) – 5,714 loans for $346 million in balances
• Business Loan Payment Deferment (90 days) — 23 loans for $58 million in balances
Emergency Loans
• Emergency Relief Loans (0% or very low rate) – 404 loans funded totaling $1.6 million
• Credit Card Limit Increases – 24,000+ cards limits automatically increased, expanding available credit by approximately $21 million

Small Business Relief Fund
• Partnered with Mayor, City of San Diego and SD Grantmakers to establish grant based fund
• Contributed $100,000 in seed funding
PayCheck Protection Program (“PPP”)
• 208 small business referrals to Newtek (partner of Cal Coast CU)
• 50+ applications and 4 approvals
Fee Waivers
• Fee Waivers – 14,101 fee transactions valued at approximately $52,000
• Fees waived for ATM transactions, wires, cashier checks, stop payment on ACH, early CD withdrawal, check
cashing
Branch Operations
• All branches remain open with the exception of SDSU. Hours have been adjusted
• All branches requiring social distancing and PPE for all staff
• Security guards at all branches

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.