RICHMOND, VA – 06/08/2020
Realizing the current COVID pandemic would create financial hardships for many of its members, RVA Financial quickly took action to launch an automated loan payment deferral program at no cost to its members. Not just an immediate impact for those that rely on the credit union, “The RVA Financial team has since received an outpouring of positive feedback from members about receiving the skip-a-pay without having to apply for it or pay for it!”, remarked CEO Rick Preble.
“We looked for the best way to offer members a Skip-a-Pay option during the COVID-19 event,” continued Preble, “CU*SOUTH stepped up to help automate the program”. The Skip-a-Pay program automatically moved the due dates for 3,700 qualifying consumer loans for two months, no enrollment or opt-in was necessary by the members.
The credit union also collaborated with CUSO Media Services on a Facebook video and CUSO partner Xtend Inc. to provide marketing and member communication assistance by notifying members affected by due date changes of the benefit the program provides.
Preble finished, “CU*SOUTH continually proves to be an outstanding partner for RVA Financial. Thank you for a successful project and helping the RVA membership!”
RVA Financial FCU was organized on August 23rd, 1950 to provide financial services to serve those who live, work, worship, or attend school in the City of Richmond as well as the surrounding counties of Chesterfield, Goochland, Hanover, and Henrico. The credit union presently serves over 13,000 members through two branches and has $61.5 million in assets. For more information, visit https://www.rvafinancial.com/.
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