COVID-19 preparedness and action

There are a lot of things to worry about these days, but the entire Lower East Side People’s FCU team wants you to know that the safety of your money in your credit union isn’t one of them. Your money is safe, and your accounts are fully insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000. We are committed to continue providing banking services in a safe way to protect you and our employees.

In light of COVID-19, as precautionary health measure for you and our staff, we are taking the following steps:

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Scholarships for college deadline extended!

Due to the COVID-19 effects in our lives, we are extending the deadline for the People's College Scholarship.

If you are attending college for the first time this Fall, don't miss this opportunity to earn $1,000 to help pay your tuition or other college expenses.

The new deadline is April 30, 2020. Check the eligibility and requirements and submit your application soon to aportada@lespfcu.org.

Click here to learn more about our 2020 College Scholarship.

COVID-19 debt relief with LES People's

March has been a difficult time for many. Comes April and we have bills and loan payments to make. Knowing the difficulties your family is going through right now, our team is working hard in getting the debt relief resources out to you.

Personal Loans - We are offering Skip-a-Payment options for up to 3 months. This includes personal loans, credit cards and car loans with LES People's.

Mortgage Payments - We are offering deferment of mortgage payments for up to 3 months if household income has been affected by COVID-19. Enter "Mortgage Deferment" in subject line.

Business Loans - We are accepting requests for deferments for those business affected by COVID-19 in a case by case basis. We are also connecting you with official resources from NYC website

Please submit your request, explaining how you have been affected by COVID-19 to lending@lespfcu.org and we'll get back to you as soon as possible.

Free Tax Preparation program - suspended

Due to COVID-19 and the Social Distancing mandate, we are suspending our Free Tax Preparation program.

New dates will be available when our government lifts the quarantine in NY and the distancing mandates. Remember that the IRS has extended the deadline to file taxes to July 15, 2020.

If you have already filed your taxes with us and are waiting for updates on your returns, please email freetaxes@growbrooklyn.org, or call 347-682-5606 or 929-368-2937. We thank you for being patient with the current situation and apologize for any inconvenience caused.

This program is available thanks to Grow Brooklyn.

Click here to keep with Free Tax Preparation updates

Tips to navigate difficult financial times

Set a positive mindset:
* Focus on getting through tomorrow and things you can control.
* Turn survival mode on. Focus on basic needs vs. wants.
* Don’t get paralyzed with what you see on the news or social media, take time to disconnect.
* Stay calm and help when you can.

Stock up reasonably:
* Make sure you have enough medication.
* Make grocery lists and plan meals. Choose foods that last longer such as grains, rice, pasta, potatoes, canned food, water, and essential toiletries. Don’t overbuy.
* Avoid high risk activities to reduce chances of needing emergency services.

Have an emergency fund available:
* Keep cash handy and ensure your bank and credit union accounts are accessible. Verify that your debit and ATM cards are valid. If you don’t have cash, keep your credit card available as a last resource.
* If you are still employed, think about what expenses you can cut and start putting money aside for emergencies.

Deal with debt and bills:
* Contact your creditors and ask about hardship programs. Available help includes credit line increases, collection forbearance, and skipped payments.
* Call them to see what options you may have, you never know until you ask!
* Learn how to access resources in your city. For NYC check out NYC Coronavirus Resources.

Share and stay in touch with family and friends.
You are not alone. We are here to help!

Click here to request an appointment with Bernard for options to reduce debt and stick to your budget.