Patelco CU Offers Help to Flood Victims
About 1,200 credit union members in Sonoma County are potentially affected.
Patelco Credit Union has offered help to an estimated 1,200 members who were in a northern California area that suffered severe flooding last week.
Patelco ($6.6 billion in assets, 345,671 members) announced Friday that it had activated its Member Disaster Relief Plan to aid members potentially affected by flooding along the Russian River in California’s wine country.
The Sonoma County area is about 110 miles northwest of Patelco’s headquarters in Pleasanton, Calif.
The Russian River crested Feb. 27 with waters 14 feet above flood level — its highest level in 25 years. Sonoma County on March 1 reported about 2,600 homes and businesses were damaged. Evacuated residents on March 1 were allowed to return home to Guerneville (population 4,534 in 2010) and Monte Rio (population 1,152), about 5 miles downstream.
Patelco’s Disaster Relief Program provides immediate access to financial resources to any member in good standing who has been affected by natural disasters. This program includes access to no- or low-cost loans, reimbursement of non-network ATM fees and deferred loan payments.
“With the flooding affecting our members in Sonoma County, we are here to provide financial assistance and peace-of-mind through our Disaster Relief Program,” said Patelco President/CEO Erin Mendez.
“From our experience with the devastating fires that have swept across northern California in the past few years, we know that our members will be needing support, and we will continue to act as a resource for them in the face of this terrible disaster,” she said.
Patelco’s Disaster Relief Program allows:
- $500 cash personal loans with no interest.
- Additional $10,000 loans at a low rate.
- ATM surcharge reimbursements.
- Waivers on early withdrawal penalties on share certificates.
- Ability to skip a loan payment for one month on personal, credit card, auto, boat and RV loans.