Pasadena-based Wescom Credit Union has spearheaded a number of initiatives in response to the January wildfires including emergency loan roll outs, loan deferral options and fundraising efforts.
Ashley White, senior vice president and chief marketing officer at the company, said from the time the fires broke out, Wescom’s priority has been communication.
The credit union enacted a text alert system to keep its members updated on disaster relief offerings, as well as posting to social media. Using members’ ZIP codes, Wescom was able to target those most affected by the fires.
Wescom also lauched a donation campaign less than 24 hours after the fires began. Its members raised over $160,000 and Wescom matched every donation up to $50,000, making the grand campaign total $214,000 which will be split evenly between the American Red Cross and Direct Relief.
“We are so proud of our members for giving back,” White said. “They’re always really challenging us and holding us accountable to make sure we’re supporting the community as well.”
Additionally, the credit union has dispersed 67 emergency loans to its members totaling more than $253,000 as of Feb. 3. These loans can be up to $5,000 with a fixed interest rate of 5.9% after 90 days.
For active loans, the credit union is offering payment deferrals to alleviate possible financial strain for those impacted by the disaster.
