COLUMBUS, Ga. (WTVM) - Kinetic Credit Union is offering an Emergency Relief Loan to support its members who are experiencing financial difficulty because of coronavirus.
Current members with direct deposit or evidence of three consecutive payroll deposits who are out of work or have been temporarily furloughed because of coronavirus will be eligible for the following:
- Emergency Relief Loan with amounts up to two weeks net pay, with total proceeds up to two months net pay
- 0% APR for the first 60 days. After 60 days, the rate will be the same as the shared secured loan at that time, currently 4.10% APR (Annual Percentage Rate)
- Term up to 12 months
All members affected will have options as well:
- May apply for a personal loan
- Option of penalty-free withdrawals on qualified certificates
- May apply for extensions on current loans
“Kinetic stands ready to assist our members with their financial needs and help them get through the financial issues being caused by COVID-19," said Mark Littleton, President and CEO of Kinetic Credit Union.
To take advantage of this special service, members can call (706) 320-8575.