Coronavirus (COVID-19) Updates
As more information comes to light regarding the Coronavirus, we are focusing on the health, safety, and well-being of our members, employees, and community. Below you'll find information about temporary closings, along with all the ways we are here to help. We will continue to monitor the situation daily and provide updates as needed. If you have any questions or concerns, please call us at (561) 775-2525 or email us.
Branch Lobby Re-openings - Now!
In an effort to keep us all safe while we re-open our branches to serve you, we will be adhering to the following social distancing guidelines.
- Only Velocity members will be permitted inside branches. Non-members may apply online. Click here to get started!
- We require that you wear a face mask to enter the credit union. Please note that members will be required to lower masks to properly verify identity.
- Questions regarding a loan during this time please call us at 561-775-2525 or apply online at www.velocitycommunity.org.
- A limited number of members are allowed to access the branch at a time. Please contact your branch for specific limitations.
- To follow social distancing, non-members and family members are discouraged from escorting members into the branch unless absolutely necessary. When necessary it will be limited to one guest per member.
- If members need to use a pen, a new pen will be supplied to use and keep.
Our branches will be marked to provide guidelines of where to go and how to maintain your distance while in the branch. We appreciate your paitience as we navigate this time.
As a financial co-operative, we understand more than most exactly what it means to help each other. So in times like this, we lend more than a hand. Below you will find several Pandemic Relief Options.
For qualifying members, an automatic skip a payment will be added to your April VISA Credit Card Statement. The payment will be "no minimum amount due" giving you the option of whether or not you want to make a payment. For any questions, please reach out to our Card Services Department.
If you are struggling to make Velocity Community CU loan payments, please let us know. For qualifying members, we are making waivers on payments in order to help during these extraordinary times. The Consumer Loan Payment Waiver allows you to waive up to three-months worth of payments on most consumer loans with no fees.
If you wish to waive payments, please submit the following form and provide information on your need. Then, you can focus on what is important during this challenging time.
If you are a homeowner with a mortgage through Velocity Community CU and have been financially impacted by COVID-19, we are here to help! In an effort to support you during this challenging time, we are offering mortgage loan deferrals for those who qualify. Please note, there are no costs or fees associated with the deferment.
If you wish to defer your mortgage, please submit the following form and provide information on your need.
Are you dealing with financial hardships, such as income disruption or unexpected expenses related to COVID-19? Our Pandemic Relief Loan is here to help you through this challenging time.
We are offering up to $7,500 at a fixed rate of 5.99% APR* for up to 36 months. Plus, there are no payments for the first 60 days so you have more time to get back on your feet.
*APR = Annual Percentage Rate. Example payment: $7,500 for 36 months at 5.99% APR will have a monthly payment of $228.98.
What You Need To Know
As we continue to monitor the COVID-19 situation, we are focusing on the health, safety, and well-being of our members, employees, and community. With this in mind, we have postponed the following events.
- Annual Meeting (Tuesday, April 24) - Postponed to Tuesday, June 23, 2020
- Youth Month (April) - Postponed to a virtual format in May
The Federal government signed the CARES Act into law, which provides a $2 trillion stimulus package to help consumers and enhanced unemployment insurance for those who have lost their jobs.
Currently, the consumer stimulus funds will be made available directly to any person via direct deposit if the IRS has that information from your tax returns, or by personal check mailed to your address. If you do get a paper check, you can easily deposit it from home with Express Deposit on Mobile Banking. For the most up to date information regarding the stimulus funds, visit the IRS website. To get an idea of the amount you could potentially qualify for, use this calculator.
Be aware that scammers are using the stimulus package as a cover to commit fraud. They pose as the IRS and claim to need identity verification or offer additional money if you pay a fee, then they steal your information. Head to the IRS website for updates on how to avoid identity theft.
Times such as these bring out both the best and the worst in people. While we celebrate the people on the front lines working to combat COVID-19, we also need to be aware of those who would take advantage of the situation. We are already seeing scammers use the fear surrounding COVID-19 to steal your information. Velocity Community Credit Union is doing our part to keep you secure, but you as the consumer need to take extra precautions to extend these safeguards.
Remember to stay alert, don't click on links from sources you don't know, watch for emails claiming to be experts, and do your homework when it comes to requests for donations. For more details on different scams and tips to prevent being scammed, head to the Federal Trade Commission website.