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The Louisiana Credit Union League said it will be distributing COVID-19 rebate payments to their member credit unions.

A first of its kind in the association landscape, according to LCUL, more than 140 Louisiana credit unions will receive a rebate payment ranging from $300-$2,500 during the week of June 8,

“Louisiana credit unions are doing everything they can to help their members by waiving fees and offering loan extensions,” LCUL President/CEO Bob Gallman said in a prepared statement. “The league is equally invested in their members and is willing to do its part in good faith. We want our credit unions to recognize that we are in this together.”

He added that the rebate is in line with the league’s strategic objective of operating under the same cooperative spirit as credit unions and in delivering value back to our membership. The rebates are made possible because of LCUL’s strong affiliation rates and operational efficiencies.