Members 1st Federal Credit Union understands that these are unprecedented times for business owners. For 70 years, the credit union has been there to support its community and this time is no different.
The recently passed Coronavirus Relief Package, or CARES Act, contains several benefits for businesses and Members 1st is happy to have a strong team eager and ready to assist. Small business owners with 500 employees or less will especially benefit from the CARES Act. Those businesses that maintain their payroll during this unusual time can receive up to 8 weeks of cash-flow assistance. Loans in the amount of up to $10 million with forgivable interest that have the potential to be paid back over 10 years are able to help cover payroll expenses, rent, utilities and mortgages.
As an approved Small Business Administration lender, Members 1st is eligible to assist with the new business programs authorized in the legislation. The team is eager to assist in navigating through the options available, whether it is looking for guidance on the Economic Injury Disaster or Paycheck Protection Loans, or if business owners want to know about relief options for existing loans. Whatever the questions are, Members 1st’s dedicated team of lenders stand ready to help the small business community.
“We know that our small business friends are faced with some extremely tough decisions right now, and we want them to know that Members 1st is here to help,” said Chief Marketing Officer/Chief Relationship Officer Mike Wilson. “Our associates are hard at work, around the clock, through these tough times to make sure our members needs are being met. We know that small business is the backbone of the American economy and we recognize the need to serve our community as a trusted financial partner.”
In fact, Members 1st is offering business members their very own dedicated concierge through its personalized MyConcierge® service to help guide business through the many options they have. Simply email firstname.lastname@example.org to get started, and they will be happy to assist you. For more resources available to members at this time, please go to members1st.org.
Members 1st remains open as it continues to serve its members through these unprecedented times, and has moved to a “by appointment only” model in its branch lobbies to ensure proper social distancing measures, including its in-store Giant branches. Additionally, the credit union is encouraging members to take advantage of the features and convenience of the Members 1st mobile app, online banking, ATMs, and drive-thrus.
Members 1st FCU serves more than 440,000 members through its network of nearly 60 branch locations throughout Central Pennsylvania, as well as its robust digital banking and call center channels. To learn more about Members 1st, visit www.members1st.org or call (800) 283-2328.