Vermont Business Magazine State and national governments are taking steps to reduce the impact of COVID-19 on peoples’ budgets, but how those measures will help Vermont’s self-employed workers isn’t yet clear. Beginning Wednesday, NorthCountry Federal Credit Union make available a COVID-19 Financial Relief Program that includes help for the self-employed. Qualified accountholders are eligible to borrow up to $5,000 interest-free and repay it over the next two years. Certain restrictions apply.
NorthCountry CEO Bob Morgan states, “Actions to mitigate the spread of COVID-19 are necessary, but their impact on self-employed Vermonters are causing pain and stress. It is our hope that this relief program will enable them to weather this storm as we work together, as Vermonters, to overcome this threat to all of us.”
The credit union is also waiving its fees for overdrawn accounts and the early withdrawal of certificate funds for people who are having their income affected by COVID-19.
Details about the COVID-19 Financial Relief Program are available on the credit union’s website, www.northcountry.org.
NorthCountry, a not-for-profit financial cooperative, serves 60,000 members and has been recognized as a “Best Places to Work” by Vermont Business People magazine in 2020. It is headquartered in South Burlington, Vermont. Accounts are insured to $250,000 by the National Credit Union Administration.
Source: NorthCountry Federal Credit Union 3.17.2020