KeyPoint Credit Union Blog


From CEO, Brad Canfield

We Are Here for You, In Good Times and Bad

The recent Federal government shutdown provided a hardship for thousands of Americans across the country, and for many of KeyPoint Credit Union’s 41,000 members. One of the advantages of being a member-owner of your financial institution is that we are always here for you, in good times and bad.

Unlike the big for-profit banks, your not-for-profit credit union works one-on-one with each member to assist you during times of need. When the dot-com bubble burst, KeyPoint immediately responded with programs to help our members who were laid off. Those programs are still in place today for any member who experiences a job loss.

When the real estate market fell apart, many banks and mortgage lenders were reluctant to assist borrowers struggling to make their payments. KeyPoint quickly provided workout plans to help our members keep their homes and their good credit.

The recent government shutdown offered a new opportunity for KeyPoint to demonstrate that we’re here for our members. We’ve provided fee waivers for many members who experienced delayed income, and we assisted other members with their loan payments.

One of our newer members was four days away from close of escrow on a new home purchase. This member is self-employed and his tax returns needed to be verified by the shutdown IRS. The member was at risk of losing the house and his deposit if he could not find financing. KeyPoint was able to verify the tax returns another way, to ensure that our member could purchase his home on time.

We are all relieved that the government shutdown has ended, but I want to remind our members that KeyPoint is here for you. It doesn’t take a national crisis to cause a financial hardship, and I encourage you to reach out to us during your times of need.


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