VACAVILLE, CA – While the challenges of 2020 are unprecedented, there were more opportunities this year than in Travis Credit Union’s 70-year history to create value for our members and local community. In a nine-month span, Travis Credit Union implemented multiple financial relief initiatives for members and distributed more than three million dollars to community partners providing essential services, all while serving and advocating for our members and neighbors in new and creative ways.
“The pandemic and wildfires resulted in a team effort to show up for one another, our members and our community,” said Barry Nelson, president and CEO of Travis Credit Union. “We are witnessing incredible resilience in the midst of astonishing hardship.”
Travis Credit Union rapidly implemented COVID-19 Member Relief Programs that have resulted in:
- More than 337 emergency loans totaling nearly $1.3M (Consumer Lending Disaster Relief)
- More than 44,000 monthly consumer loan payments skipped (including personal, auto and home equity line of credit)
- More than $2.75M in deferred mortgage payments
- Fee relief for more than 13,500 members (waived skip fees)
- Deferred payments on business loans totaling more than $1.1M (P&I payments)
- More than 260 emergency loans totaling $17M (Paycheck Protection Program)
In response to immediate needs, Travis Credit Union dispersed $1M to nearly 100 non-profits in the counties we serve to provide rapid relief for public health and long-term economic challenges as a result of the pandemic.
In addition, The Travis Credit Union Foundation raised more than $1M for the COVID-19 Relief Initiative, which was matched by Travis Credit Union, for a total of $2M distributed to 80 local community organizations, many of whom are providing resources and services to individuals and families impacted by the pandemic. One hundred percent of all donations went directly to relief efforts.
Also, relief efforts in response to the LNU Complex Fire resulted in successfully raising more than $17K for Travis Credit Union employees impacted by the fire, and another $89K for those in our communities who needed support rebuilding.
“It isn’t just about the relief we provide through the loans we make, or the fees we waive,” says Nelson. “It’s about the impact and the lives we change. In 2021 and beyond, TCU will continue to be defined by our Awesome Cause – which is to change lives and lift communities through financial wellness. As a credit union, we are dedicated to ‘people helping people’ – through a pandemic, social injustice or wildfire – today, and every day of the year.”
Financial wellness classes offered in the communities we serve transitioned to a digital format in 2020. A wide variety of valuable financial education presentations are now all available for free through videos and webinars, live and on-demand at traviscu.org/webinar.