COVID-19 MEMBER UPDATES

April 1, 2020

MESSAGE FROM THE CEO

    For a long time, True North’s slogan has been “Guiding Alaskans on their financial journey”.  In my 25 years at True North, the journey we’ve taken as a State, and as a Credit Union has been full of turns, hills (up and down!) and bumpy stretches of road.  True North was proud to keep lending during the financial crisis in 2008, when many in the financial services industry pulled back.  In fact, True North launched its business loan program because we saw small businesses struggling to get the capital they needed to keep moving forward during that time of stress.  When there were no viable financing opportunities for mobile homes in Juneau, it was True North that developed a program to offer reasonable terms so members could have access to affordable housing.  There are other stories along these lines I could tell, but the real focus here is the road ahead, not what’s in the rear view mirror.

    So here we are again, facing what is no doubt the biggest crisis yet.  My message to you today is that True North will continue to be with you on this journey, however bumpy the road might be.  Our skip pay and emergency relief loan solutions are described as “bridge” products for that very reason – to help bridge the troubled waters before us.

    Perhaps that metaphor has come to the end of its road, so I’ll conclude by saying that we are here, we are stable and we ready to help.

How have we been responding to the COVID-19 crisis?

Here are some details:
In our effort to flatten the curve and protect staff and members alike, we have altered our branch service delivery:
•    Juneau IGA branch has been temporarily closed due to very close quarters
•    Mendenhall and Anchorage Branches are offering expanded drive-up service, and lobby service is available by appointment.
•    Most loans with True North may now be signed electronically from your home!
    Our goal is to keep the True Crew and our members healthy and safe, while still meeting your needs.  The member response to these adjustments has been very positive, and I thank you for your willingness to work with us to meet this goal.  
    Here are some other adjustments to assist you:
•    ATM transaction limits have been increased, as well as the point-of-sale limits on ATMs and check cards.
•    Fees for early withdrawal of certificates of deposit have been waived.

For those with True North loans:

We have launched the Bridge Skip-A-Pay program.
•    Skip up to 3 monthly payments on any qualifying loan
•    Normal $30 fee has been waived
•    If you don’t qualify for a skip pay either due to payment history or loan type, please let us know – we will still work to assist you!

If you are in need of additional funds to carry you through, we created the Bridge Personal Loan:
•    $5000 maximum, depending on income
•    Repaid over 24 months
•    First payment due date up to 90 days from date of advance
•    If fully repaid within 150 days of disbursement, no interest!   A low 5.00% APR thereafter.
    Please see www.TrueNorthfFCU.org for more information about these solutions.

    If you are like me, you are spending far too much time watching the news, staring at disturbing graphs, listening to very long public meetings on Facebook and pondering things like exponential growth.  But let’s not forget to look further down the road and focus on the rebound.  It will come. We will have no doubt changed as a result of this experience, but resilience is the DNA of Alaskans, and is one of the True Crew’s internal values.   We will be here with you on the other side of the bridge as well.   

Sincerely,

Lauren MacVay
President/CEO


*BRIDGE SKIP-A-PAY: O.A.C.  Offer not valid on Mastercard Credit Cards, Overdraft Lines of Credit, Business, Mortgage, Home Equity loans or currently delinquent loans.  Eligible loans for the Bridge Skip a Pay program must be at least six months old with consecutive payments, and no loan is eligible for more than three skipped payments in a twelve month period. Loans less than six months old must have paid at least one payment and will only be eligible for one skipped payment. Offer expires 6/30/20.

**BRIDGE PERSONAL LOAN: APR is Annual Percentage Rate. Maximum loan amount is $5,000.  Amount you qualify for may vary. If the loan is repaid within the first 150 days of the loan, interest paid will be refunded to you.  Payments on a $5000 loan at 5.00% for 24 months with first payment due in 90 days is $240.34.
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March 20, 2020

Branch Service Changes

At True North, the health of our members, staff and communities is our highest priority, and for those reasons we are making the following changes to our branch locations effective Monday, March 23rd. Our goal is to return to normal branch access as soon as possible, and we will reevaluate regularly. 

Juneau Branch, 615 W. Willoughby Avenue, Juneau

Will be closed for the week of March 23rd

  • We deemed this step to be necessary given the very small size of our branch and busy location in the store.
  • Juneau IGA Branch ATM is available 24/7.

Mendenhall Branch, 2777 Postal Way, Juneau

click here to make an appointment button
  • All teller transactions will be routed through drive up, where we have expanded functionality and can meet all normal transactional needs.
  • To make appointments for loans, account openings or complex transactions, follow the above link or call (907) 523-4700.
  • Night drop is open during this time and will be processed morning, afternoon and evening.
  • Mendenhall Branch ATM is available 24/7.

Anchorage Branch, 341 W. Tudor Road, Suite 100, Anchorage

click here to make an appointment button
  • All teller transactions will be routed through drive up, where we have expanded functionality and can meet all normal transactional needs.
  • To make appointments for loans, account openings or complex transactions, follow the above link or call (907) 523-4700.
  • Night drop is open during this time and will be processed morning, afternoon and evening.

Electronic Access

  • You can do most banking transactions electronically through homebanking, including paying bills and transferring funds to your accounts at another financial institution.  If you aren’t currently set up for home banking, click here to enroll.
  • Through True North Mobile you can do all that, plus remote deposit checks into your True North account. 
  • Over 30 surcharge free ATMs in Alaska with the Coop ATM network.  Find an ATM at https://www.co-opfs.org/Shared-Branches-ATMs.

Additionally, we now have the ability to close your loans remotely by electronic signature!

This new service is available for the following loans:

  • Personal loans
  • Credit cards
  • Auto loans
  • “Toy” loans
  • Pledge loans

Real Estate and Business loans must still be closed in person, so follow the appointment link above to see what appointments are available to meet your needs.

We are truly sorry if you experience inconvenience as a result of these changes.  These are difficult times and we ask for your understanding and cooperation as we strive to meet your needs while taking the best steps we can to prevent the spread of the COVID-19 virus.

Here are some other actions we have taken to support our membership during the crisis:

  • Our Bridge Skip-A-Pay program has been activated and expanded, allowing you to skip up to three payments in a twelve month period on many loan types. NORMAL FEES ARE WAIVED.  Click here for details.
  • If you do not think you qualify for that program, please email memberservice@truenorthfcu.org for a call back about how we can help you bridge any disruption you are experiencing.
  • Early withdrawal penalties on certificates of deposit are waived.
  • ATM withdrawal limits have been increased to $1000
  • Point of Sale (POS) withdrawals limits have been increased to $1500 for ATM Cards and $5000 for Check Cards.

True North is well positioned to support our membership, staff and communities through this crisis.  We have activated our existing pandemic response plan and are striving to ensure that the same level of service is available to you while taking the responsible steps to protect member, staff and community.

Sincerely,

Lauren MacVay
President/CEO

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March 13, 2020

Dear Member:

Like the rest of the country, True North has been monitoring the Coronavirus (COVID-19) outbreak.  We began planning and taking precautions early on, and continue to do so.   We remain open during regular business hours, and are taking all steps reasonably possible to maintain a clean, safe environment for both members and staff.  

It is our goal to continue with current service times and levels, but if changes do occur we will communicate those to you through Facebook, Twitter and our website www.truenorthfcu.org.  Please keep in mind the many ways you can communicate and transact with us without coming into the lobby:

    •    Banking through our drive up locations
        o   Juneau: Mendenhall Branch – 2777 Postal Way
        o   Anchorage: Anchorage Branch – 341 W. Tudor Road
    •    Digital banking through Express PC and True North Mobile
        o   Secure messaging within Express PC
        o   Remote Deposit of checks through True North Mobile
        o   Bill pay and person to person transfers through bill pay
    •    Check Cards and Credit Cards for digital payments
    •    Contacting Member Contact Center by calling (907) 523-4700 or emailing memberservice@truenorthfcu.org
    •    Over 30 surcharge free ATMs in Alaska with the Coop ATM network.  Find an ATM at https://www.co-opfs.org/Shared-Branches-ATMs

Also, we recognize that this virus poses other challenges to Alaska and our membership. We want to be your partner at every point in your financial journey – even when there are some potholes and detours along the way.   If you have concerns or need assistance, please reach out to a member service representative at (907) 523-4700.  

We encourage you to utilize the resources of the Centers for Disease Control at www.cdc.gov for the most current information how to protect yourself and others.  To summarize:

    •    Wash your hands often and thoroughly
    •    Create habits and reminders to avoid touching your face and cough into your sleeve or elbow.
    •    Disinfect frequently touched surfaces like doorknobs, handrails, and tables
        frequently
    •    Increase fresh airflow
    •    Practice social distancing and avoid large gatherings