NC Credit Unions Step Up Resources for Families Affected by Warehouse Fire
Tuesday, March 15, 2022
Local credit union employees are providing volunteer financial counseling services to QVC plant employees and their immediate families who were impacted by the Rocky Mount warehouse fire.
The 1.5 million square foot distribution facility was severely damaged by a fire last December. Coastal Credit Union Branch Manger Shane Lancaster said residents can receive assistance with managing bills and income, miming damage to credit and navigating retirement.
"Especially with the QVC fire, you've instantly got almost 2,000 folks without a job," said Lancaster. "When you lose your job, there's a lot of hurdles to navigate, whether that be for getting on unemployment or finding a new job and adjusting to a new salary."
Those affected can visit 'carolinasfoundation.org/financial-first-responders.' Lancaster noted that individuals do not have to be a member of a credit union to request assistance.
He noted that seeking professional financial help can increase the odds of meeting saving goals or having a secure retirement.
"We definitely want to encourage folks to reach out to the different credit unions in the area," said Lancaster, "the credit unions that they are eligible for, and get connected to a financial professional. Going to somebody for the advice to help you kind of get perspective, regarding any financial issue that you have, is a key thing."
Vice President for Communications at Coastal Joe Mecca said credit unions offer financial services to nearly one-third of all Americans, and help to ensure that money stays in communities.
"Cooperatives are member-owned," said Mecca. "So we aim to return our profits back to our members, who are the people who use our products and services every day."
He notes that this year, Coastal Credit Union issued more than $4 million in special dividends to around 77,000 members through its Loyalty Bonus program.
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