North Star Community Credit Union is proud to announce they are quickly reacting to the impact of the COVID-19 pandemic with a three-tiered plan to help its members, employees and communities through these uncertain times.
FOR OUR STAFF, we are giving each of our 99 employees a $500 “Pay it Forward” cash bonus to help with any unexpected expenses during this time. The Credit Union is paying all payroll related taxes so that employees get the full $500. Each employee is being encouraged to “Pay it Forward” by sharing part, or all, of this bonus with someone in their community that needs it. Bob Herrington, CEO has pledged his bonus to helping area families make rent payments due to loss of work.
FOR OUR MEMBERS, we are offering a no hassle 90-day loan extension on any consumer loan payment regardless if the member has been directly impacted by the pandemic. It is our hope that members with little or no negative impact will use this extra cash and “Pay it Forward” by helping someone who needs it more than them.
We are also offering low interest hardship loans to help with personal expenses to members that have lost income due to pandemic related closures or business interruptions. Herrington states, “As a member owned cooperative financial institution we take every opportunity to serve our members, in good times and bad times, this is just one example of what makes credit unions different.”
Visa credit card members will receive up to a $500 credit limit increase to help with unexpected expenses and will be able to skip payments in April and May.
FOR OUR COMMUNITIES, we have allocated a $50,000 gift card budget. This money will be used to purchase gift cards from local small businesses that are negatively impacted by closure or reduced hours because of the pandemic. These gift cards will then be given out to area groups such as health care workers, first responders, and teachers. Each recipient will have the option to keep the gift card or once again “Pay it Forward” to someone that needs it more than they do.
For more information, contact us at 701-858-9300 or 800-410-2226.