Add Anheuser-Busch Employees’ Credit Union, and its American Eagle Division, to the growing list of credit unions that are offering relief to members impacted by Hurricane Sandy.
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The $1.4 billion credit union in St. Louis said its emergency assistance loan can help members needing extra funds for temporary living expenses and repairs until disaster relief or insurance payments are received.
The loan is interest free for six months, and then provides an additional 12-month payment period, according to ABECU/AECU. It is priced at 1% below prime.
“This is what credit unions are all about, helping people in times of need. When things happen that are out of a member’s control, we’re ready to help,” said Dave Tate, vice president of consumer lending at ABECU/AECU.
The 111,000-member credit union said it developed its emergency assistance loan in January 1994 to provide funds for members affected by disasters such as tornadoes, floods and hurricanes.