As the COVID-19 crisis continues to place financial pressure on many Americans, I’m pleased to share some updates that will hopefully help our members during this difficult time.      
 

Early Withdrawal Penalty Waived                         

We understand that many members with certificate deposits may need access to these funds before their certificate matures. To help, we’re waiving the early withdrawal penalty for certificates through July 31, 2020.   
      

Easier Access to Your Savings             

We also know that you might need increased access to your savings in this difficult time. The Federal Reserve Board has implemented a temporary suspension of Regulation D, which limited the number of withdrawals or transfers that could be made from a savings account during a calendar month. So, we’ve lifted the previous limits. For the time being, members can make an unlimited number of savings account (non-timed deposits only) withdrawals or transfers to another account.       
   
                

Economic Impact Payments                    

If you’ve qualified for a Federal Economic Stimulus Payment, your funds will automatically be deposited to the account where you previously directed your 2018 or 2019 tax return. If you’ve been issued a check payment, using mobile deposit is the quick and easy way to deposit your funds. Be sure to endorse the back of your check with your signature and write: For Mobile Deposit Only RT 322283990. To see if you’ve qualified for the economic stimulus and/or to check the status of your payment, please visit the IRS website.

              

Federal Paycheck Protection Program   

We understand that many small business owners wish to participate in the federal government’s Paycheck Protection Program. Premier America has partnered with Lendio, and their vast network of lenders, to facilitate Paycheck Protection Program Loans for Premier America business members. Please see here for more information and to apply.          
 
   

Financial Hardship        

We’re committed to providing loan assistance to members financially impacted by COVID-19. Please see here for more information on requesting a loan deferment or emergency loan.
 
We understand these are difficult times and want you to know that, as your committed financial partner, we are here to help. If you have any questions or concerns, please contact a Member Service Representative at 800-772-4000, Monday - Tuesday from 8 a.m. to 5 p.m., Wednesday from 9 a.m. to 5 p.m., Thursday from 8 a.m. to 5 p.m., Friday from 8 a.m. to 6 p.m., and Saturday from 8 a.m. to 1 p.m., PT.
 
Thank you for being a valued member, and for your trust in Premier America Credit Union.
 
Sincerely,
 
Rudy Pereira
President/CEO 

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