Truliant Associates Awarded an Extra $1,000 Stipend for COVID-19 Pandemic Work
Release date: 5/4/2020
WINSTON-SALEM, N.C. (May 4, 2020) – Truliant Federal Credit Union will distribute a total of $655,600 to the credit union’s employees in acknowledgement of the exceptional effort to continue serving members during the coronavirus pandemic.
"This is the essence of what credit unions are about,” said Todd Hall, president and CEO of Truliant. “Our commitment to improving lives is not just limited to our members. Faced with adversity, our frontline and work-at-home employees have done remarkable work, making sure our members have access to their finances and relief options during this time of economic uncertainty, hardship and isolation.”
The one-time payment averages $1,000 for each full-time associate and the money will be distributed in the coming weeks. Executives and other senior leaders have been excluded from the payments.
Hall added, “I am so proud of our team. They accepted a responsibility – all while juggling their own family obligations and personal finances – to achieve positive outcomes for our members. This unselfish commitment to service is what we strive for as an organization. It’s important for us to recognize these efforts and to provide additional resources to continue this work.”
During the COVID-19 Pandemic, Truliant employees developed, adapted and expanded programs to ensure its commitment to members does not waver. The credit union increased mobile accessibility, kept branches open by appointment and cross trained more than 100 employees to answer incoming calls to ensure that our contact center was able to meet the demand of increased volume. Truliant also developed special programs including an expanded Skip-A-Pay option for a variety of loans and a low APR Loyalty Loan program to replace lost paychecks. Through the first round of the Payment Protection Program, Truliant awarded 248 loans to small businesses, and anticipates more than 500 will receive funding in the second round.
“These are true small businesses: restaurants, hauling companies, gyms, roofers, landscapers, auto detailers, pavers, hair and nail salons – the dreamers who are the lifeblood of our local economies. Our members have needed us during this time, and our staff has worked night and day to make sure they continue to prosper when the pandemic ends,” Hall continued.
Since early April, Truliant has provided COVID-19 related support to nearly 50 non-profit organizations serving communities throughout its footprint in the Carolinas and Virginia. These include relief funds coordinated by community foundations, grants and personal protective equipment initiatives.
In April, Truliant began its “People Helping People” initiative to support both local restaurants and essential workers on the front lines of the COVID-2019 Virus Pandemic. It will continue to provide meals to support workers throughout the pandemic. Among those already fed through the program are its own staff and the employees of Novant Health Forsyth Medical Center screening locations in Winston-Salem and Kernersville. Truliant will also be providing meals to Asheboro, Winston-Salem, High Point and Greensboro Police Officers, among others, in May.
The Truliant at Work program, with more than 1,000 partner companies, offers webinars and one-on-one virtual appointments to support employees with educational programs tailored to budgeting during the pandemic. In addition, Truliant has awarded five $100 prizes in contests each week through social media to keep members in engaged while spending more time at home.
Hall concluded, “I wish that we had a crystal ball and could predict when this is going to end. This is unchartered territory, and no one knows. We want to make sure we’re aligned with the guidance of state and local leaders to determine the best ways to safely take back our prosperity—in the same way we have rebounded from past challenges, with the courage, commitment and character of our people. Truliant is not a group of buildings. It is the people who work here and the members we serve.”
About Truliant Federal Credit Union
Truliant is a mission-driven, not-for-profit financial institution that promises to always have its member-owners’ best interest at heart. It improves lives by providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves 258,000+ members. Truliant has more than 30 Member Financial Centers in North Carolina, South Carolina and Virginia.
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Contact: Heath Combs
(o) 336.293.2054 (c) 336.442.5736