Disaster Relief Plan
for Ontario CU CREDIT Cardholders

Introduction

Like the rest of the credit union system and many other organizations in Canada, CUETS considered various ways of providing significant assistance to Manitoba residents who were adversely affected by the 1997 flood.

Working cooperatively with Credit Union Central of Manitoba, CUETS developed a plan that provided immediate, tangible relief for many of the 1600 CU CREDIT cardholders and other Manitoba residents from stricken areas.

CUETS dedicated $20,000 to an Interest Abatement Fund, which was used expressly for the purpose of forgiving CU CREDIT interest charges on a case-by-case basis.

These forgiven interest charges came with absolutely no strings attached. In total, approximately $3000 was distributed to CU CREDIT cardholders. The remaining $17,000 was donated to the Canadian Red Cross to assist with their relief efforts.

The Interest Abatement Fund joined a list of other temporary measures CUETS implemented to recognize the unique situation of Manitoba residents, which included:

• immediate processing of credit limit increases on request
• waiving the requirement for minimum monthly payments
• displaying heightened sensitivity to Manitoba cardholder issues from Cardholder Services and Collections departments

Ice Storm Relief Program Unveiled

At the program's conclusion last fall, Stan Kuss, Chief Executive Officer, indicated that "this directed relief effort, thought to be the first of its kind in Canada, will serve as a test model that may be used for future disaster situations that arise." Now, far sooner than anyone would have hoped or predicted, the need for a similar disaster relief plan has resurfaced.

To address the pressing need, CUETS is extending the same CU CREDIT cardholder relief measures introduced in 1997. Since a specific dollar amount has not been dedicated to this initiative, the Red Cross will not (this time) receive direct funds from the program.