Credit Unions & Banks Offer Sound Advice In This Uncertain Time

Right now most of us are trying to figure out how to navigate life in this new normal. Without much to refer back on for guidance, many are wondering how to handle their finances.

Many financial institutions are making the effort to help their customers handle current situations that are going on during the current Covid-19 crisis. Whether it's a decrease in income, or even the loss of a job due to staff reductions, most of us are wondering exactly how to cover our monthly bills and what to do with the money we do have in the bank or credit union.

Several financial institutions are offering their members help in the way of adjusted rates, skipping a monthly payment, or even special loans to help them get by. One thing most bank and credit unions are stressing is not to panic and most certainly don't take your money out to keep at home.

"Don't panic or act irrational. Take time and think about it", says ELGA Credit Union Executive Terry Katzur. "Your money is safer in a certified and insured financial institution than under your bed", he notes. "Talk to the advisors and customer service at your financial institution before you make a move".

With options to aid in financing and alternative payment schedules, the best advice to is to reach out to your financial institution and discuss your particular situation to find a solution that works and will keep your finances in check. Schedule a time and get your questions answered and hopefully ease your mind.