Last year's pandemic brought about economic hardship for some of our members. Unlike many other financial institutions, for part of 2020 we responded by temporarily pausing our standard practice of charging fees for late payments on some of our loans.
Since economic recovery efforts are well underway, we reinitiated the standard practice of assessing late fees. While we understand that the road to recovery will extend after this year, reactivating this practice will allow the credit union to maintain a healthy loan portfolio and strong financial standing for its member-owners. If you have any questions, please contact firstname.lastname@example.org.