NEWS RELEASE: Small Business Relief Loans

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Mar 20, 2020

FOR IMMEDIATE RELEASE

Texoma Community Credit Union To Offer Small Business Relief Loans

Easy-Apply Loans to Help with Impact of COVID-19 on Local Businesses

Wichita Falls, TX (March 20, 2020) – Texoma Community Credit Union (TCCU) has introduced a new type of loan to help local small businesses impacted by closures and precautions related to COVID-19 Coronavirus. Loans are available immediately to anyone with a TCCU account in good standing.

We have found ourselves in a very unique, unprecedented and uncharted territory due to the COVID-19 outbreak,”  said John Buckley, President and CEO. “We are a financial institution that serves all members in good times and through difficult times. We have a strong financial position solely for this purpose and are prepared to serve to the best of our ability.”

Loans are available to anyone with a TCCU account in good standing, for up to $25,000 at a low rate of 3.25% APY. Extensions will be available based on time and needs.

“We’ve streamlined our lending process to bring relief to our community as quickly as possible,” said Randy Brewster, Commercial Loan Manager. “We’ve also made everything electronic so that no one needs to come into a branch to get a loan. Our hope is that these loans will help bridge the gap, and make the difference that helps our neighbors stay in business.”

If you are a member of TCCU who has been personally affected by COVID-19 precautions – such as loss of employment or inability to work, TCCU is also here to help. 

“If our members are struggling, we want to work with them to find the best solution possible,” said Ken Thomason, Executive Vice President and Chief Lending Officer. “There are a number of ways we can help – from small personal loans to payment deferment on current loans. Our mission is to serve our members and protect their financial wellbeing, but we can’t help if we don’t know. We want to open the lines of communication so that we are working together before a loan goes into default, or financial hardship occurs.”

If interested in a small business relief loan, visit https://texomacu.com/relief-loans or contact Randy Brewster, Commercial Loan Manager at randy@texomacu.com. If you have any questions about personal accounts or loans, please call 940-851-4000 to speak with a loan officer.

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About Texoma Community Credit Union

Texoma Community Credit Union is a democratically controlled financial cooperative that has served Wichita County and 10 surrounding counties for over 65 years. Because it is “not-for-profit, not-for-charity, but for service,” all income, after expenses and necessary reserves, is given back to our members in the form of lower fees, lower loan rates and higher deposit rates. Its mission is to build a community where everyone is given the tools to become RICH. (Ready, Independent, Charitable, and Happy). For more information, visit www.texomacu.com