Empowering Credit Unions Since 1934 through: Trade Association For Virginia's Credit Unions EDUCATION NEWS SOLUTIONS ADVOCACY COMPLIANCE COMPLIANCE Learn more at www.vacul.org www.vacul.org “Unfortunately, I still think the market is somewhat frozen because of the liquidity challenges many banks and credit unions face. But I think a subset of folks are probably still waiting on the sidelines, watching interest rates, seeing if they’ll fall before they jump in,” he explains. Despite these challenges, the credit union has not slowed in meeting the demands of those ready to buy. Robnett notes,“We’ve seen an uptick in demand, especially during the spring buying season. We’ve been here meeting that need for those folks who have been waiting and had money on the sidelines.” However, he concedes that the environment has seen peaks and valleys, reflecting the broader economic uncertainties. Regarding product offerings, Justice Federal Credit Union has introduced several initiatives to support its members through financial difficulties and life transitions. “We have our federal government shutdown assistance,” Robnett highlights. In the event of a federal government shutdown, furlough, or sequestration, we are ready to assist our members with low-interest rate loans and deferments on loan payments.”This support system has existed since the first government shutdown in 1981, signifying the credit union’s long-standing support of its members. Another notable product is the skip payment option, available during the holiday season. “Each year, members are invited to take the opportunity to skip a payment on their consumer loan, with a portion of the service fee donated to the Concerns of Police Survivors,” Robnett mentions. Additionally, the credit union offers a scholarship competition to encourage continued education. “Our annual scholarship competition, Building Futures Across the Nation, encourages members to seek continued education to further their career aspirations,” says Robnett.This program begins every 9 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 JUSTICE FEDERAL CREDIT UNION
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