The $2.1 billion STCU approved $1.1 million in low-cost emergency loans in the month following the Nov. 17 windstorm that pounded the Inland Northwest.
Responding to the crisis that left 200,000 people without power, the Spokane, Wash.-based STCU announced the day after the storm that it was offering personal loans as low as 1.99% annual percentage rate, depending on applicants' credit history.
Called "Get-it-fixed," the loans were essentially a break-even proposition for the not-for-profit credit union, Vice President of Lending David Flood said. Collateral was not required, and the loan simply had to be storm-related to be eligible. STCU members and non-members were welcome to apply.
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