Credit unions in Georgia have continued to work tirelessly to help members through the financial realities of the COVID-19 pandemic. 

The Georgia Credit Union Association (GCUA) – the division of the League of Southeastern Credit Unions & Affiliates (LSCU) representing Georgia credit unions – has surveyed credit unions in the state three times since the onslaught of the COVID-19 pandemic. The results quantify the ways in which the state’s credit unions have helped consumers through this uncertain time. 

With 17% of credit unions responding, GCUA’s surveys yielded impressive findings.

“This was a trying year for everybody – but credit unions in Alabama, Florida and Georgia worked hard throughout this unprecedented time to help their members afford their everyday lives,” said Patrick La Pine, CEO of LSCU. “At the League, we are so proud of the efforts of our member credit unions. I’m proud to be able to spread the word about the good work they’ve done during the COVID-19 pandemic and beyond.” 

The GCUA’s COVID-19 Member Engagement Surveys found the following: 

• Credit unions in Georgia have granted at least 25 mortgage loan forbearance and extensions for a total of $2 million. 

• Credit unions in Georgia have granted at least 59 commercial/business loan forbearance/extensions for a total of $10 million. 

• Credit unions in Georgia have granted at least 676 consumer loan payment extensions for a total of $5 million. 

• Credit unions in Georgia have granted at least 61 SBA Payroll Protection Loans that are SBA approved/guaranteed for a total of $2.8.8 million. 

• Credit unions in Georgia have granted at least 4 low-rate emergency loans for a total of $10,000.

• Credit unions in Georgia have granted at least 4,645 in fee waivers for a total of $6,626.  

These numbers are evolving throughout this crisis. GCUA will continue detailing the numerous ways credit unions across Georgia are helping members afford life during COVID-19.