FOR IMMEDIATE RELEASE
Now more than ever, Caisse Alliance is living its mission statement while demonstrating true solidarity
North Bay, April 16, 2020 – Since mid-March 2020, Caisse Alliance has taken extraordinary measures to assist its 50,000 personal and business members as well as their communities, to see their way through these difficult economic times.
Since the beginning of the confinement caused by Covid-19, there are countless people who have benefited from the many assistance programs offered by Caisse Alliance.
“We are closely monitoring the situation as it progresses and are taking the necessary steps to ensure that our members receive the support they need in a timely manner to overcome this crisis”, said Pierre Dorval, President & CEO of Caisse Alliance. “We have an extremely dedicated team who is working to lighten the financial burden as we remain aware of our members’ needs and providing them access to the various governmental assistance programs. We are Human, Available and Connected.”
From mid-March to mid-April, the following occurred:
2,065 loan extensions (skips) were granted for a maximum of six months (no interest is accumulated on unpaid interest), more specifically;
- 726 personal loan payment skips
- 740 mortgage payment skips and
- 599 commercial loan payment skips
Caisse Alliance also offers personal loans of up to $5,000 with quick approval at competitive rates and business loans of up to $15,000 on a case by case evaluation.
In less than two weeks, as of March 31st,
- 11,625 personal members saw their excess account transaction fees waived on their monthly transaction package; and
- 588 business members who had an account transaction price package had their surplus transaction fees waived.
Plus, no service charges were levied for most stop payments
Collabria credit card holders both personal and business have benefited from:
- An interest rate reduction to 10.9%, upon request (offered since April 13th, except for the Centra gold card that offers a rate of 9.9% )
- Up to six-month payment extension (skip) upon request (offered since March 25); and
- A credit limit increase on request.
During the week of the launch of the Canada Emergency Response Benefit (CERB):
- 1,240 personal members benefited from a direct deposit of $2,000 for a total of $2,480,000
Caisse Alliance has offered to accompany its business members as they navigate through the various programs available to them. As the programs are made available, they are offered to our businesses.
To date, $73,550 has been distributed as a sign of solidarity to many community groups and organisations during these difficult times including:
- $50,000 to local food banks
- $23,500 to other essential service entities
On April 7th, 14,952 members received their portion the profit sharing as 23,701 direct deposits were made to 19,252 accounts. It was on March 31st that Caisse Alliance announced that it was distributing $5,000,000 after its second year of operation.
Despite reducing the hours that we are open to the public, from 10:00 to 4:00 for many locations as per the recommendations of public health officials, most of our branches remain open.
Of our nearly 300 employees, we have retained all our staff members as a result of restructuring our work plans. Arrangements have also been made for as many staff members as possible to work remotely, according to their position and required equipment.
Caisse Alliance is committed to being available for all members to help ease them through these uncertain times.
Our employees serve our members primarily by phone or e-mail as access to our premises is limited. The use of online tools and ATMs is highly recommended.
Caisse Alliance is encouraging members to deal remotely, including making a house purchase as well as purchasing investments. Our electronic signature system allows you to compete these transactions without having to come into the branch.
Over 97% of transactions can be done online. By using our AccèsD application, the following transactions can be completed quickly and with ease: viewing your account statement, transfers, bill payments, mobile cheque deposits, investments, setting up direct deposits with CRA, cheque orders, stop payments and so much more.
Are you connected? Do you have a debit card? Are you signed up for AccèsD? We are here to help. Check out our website at caissealliance.com or call your nearest branch.
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