Issue link: https://viewer.e-digitaledition.com/i/1267142
AACREDITUNION.ORG | 23 n the midst of an unprecedented worldwide crisis, frequent change has been the lone constant. Loss of employment, financial instability, health concerns — the stories are endless. Lori Hall, American Airlines Federal Credit Union's Senior Vice President Member Expe- rience, has another story to tell. Her message? Taking care of the Credit Union's members is one constant that won't be going anywhere. If anything, the Credit Union's efforts have met an extraordinary challenge with even more regard for the specialized needs of its members. "We were founded during the Great Depression by a small group of American Airlines employ- ees," Hall said. "They got together and said dur- ing turbulent times, we should be able to count on each other to navigate the storm. Today, we have assets of $8.4 billion with 46 branches across the country. But the heart of who we are as we've grown has remained unchanged … And you don't see that clearer than when you're in these crazy, turbulent times." The global upheaval brought about by the coronavirus (COVID-19) pandemic necessi- tates quickly finding ways to navigate everyday tasks, including financial well-being. Working tirelessly to spread the message that they are open for business, Credit Union team members devised strategies and measures to help provide peace of mind for members and serve the basic financial needs that don't stop when shelter-in- place becomes the new normal. FINANCIAL ASSISTANCE Several key loan and savings account enhance- ments and programs were put in place to help members manage finances. Automatic 30-day deferrals were issued on all consumer and busi- ness loans for 112,000 members during the month-long first phase, with an automated process created in April to request up to three additional self-selected deferrals. Additionally, 400 deferrals for real estate loans were issued in March and credit card deferral requests accepted by phone. With members in need, streamlined qualifica- tion for emergency loans of up to $3,000 was created to get cash in hands. The Credit Union has funded more than $6 million in loans to date. What would normally have taken weeks for the Credit Union to work through was accomplished in days by team members who worked around the clock to set them up. But the assistance didn't stop with facilitating these loan options as a resource. Credit Union team members also conducted wellness checks on most members with loans to find out where they may need help — refinancing to lower pay- ments and talking through available options for handling their loans and accounts. "We plan to be by these members' sides," Hall said. "We're in the process of calling members, just checking in on them, and that's going over so beautifully. It's a scary time for a lot of people." The Credit Union has used their website as a vital resource to help members understand the impact of legislation that could benefit them, including Economic Impact Payment information; FAQs about the CARES Act and its application to mortgage and student loans and traditional IRAs; and awareness related to fraud schemes that have developed during the current crisis. With social distancing a part of the new norm, the Credit Union team knew they needed an expanded mobile resource. Smartphone and table app service enhancements allowed mobile deposits to savings accounts (previously only checking members could deposit), in addition to mobile deposit limit increases to accommo- date larger economic impact payments. With branch services limited, call centers became members' first point of human contact. Hours were expanded from 7 a.m. to 9 p.m.,