Australia Credit Unions Offering Brushfire-Related Assistance
Credit Union Australia, the nation’s largest credit union, has pledged money to assist efforts to contain the historic wildfires.
Australia’s credit unions, mutual banks and building societies are providing a variety of services to people affected by the country’s brushfires—ranging from delayed loan payments to additional time off for volunteer firefighters.
“Australia’s customer-owned banking sector has a long history of supporting its customers and communities in times of need,” Michael Lawrence, CEO of the Customer Owned Bank Association (COBA) said.
COBA represents 72 financial institutions serving more than four million members. Lawrence, a member of the board of the World Council of Credit Unions, urged those affected by the fires to contact their financial institutions.
Credit Union Australia, the nation’s largest credit union, has pledged $150,000 to assist efforts to contain the fires and protect properties in New South Wales, Queensland and Victoria. That follows a $50,000 donation the credit union made to the Australian Red Cross.
CEO Paul Lewis said that any CUA employees performing duties as volunteer firefighters or with other brushfire assistance are eligible to claim up to four weeks of paid leave.
The credit union also is introducing a special payment plan for team members whose partners are fighting the fires.
“Whether it is a CUA team member on the fire-ground, or their partner, those volunteers should not have to go without pay or dip into their annual leave when they are performing such a vital, and valued, community service,” Lewis said. “While volunteers may not expect to be paid, they deserve to be remunerated for their time and their bravery in dangerous and unpredictable conditions.”
The credit union also is offering a disaster relief package, which may include a suspension of loan payments and fees for up to three months and assistance for credit card users.
Queensland Country Credit Union is offering similar assistance to those affected, as is the WAW Credit Union.
That institution has been forced to temporarily close some service centers as a result of the fires.