In response to the impact of Hurricane Sandy on the east coast Anheuser-Busch Employees’ Credit Union, and its American Eagle Division, are offering Emergency Assistance Loans to its affected members. The loan is ideal for members needing extra funds for temporary living expenses and repairs until disaster relief or insurance payments are received. The credit union first developed its Emergency Assistance Loan in January 1994. The loan is designed to provide funds for members affected by disasters, such as tornadoes, floods and hurricanes.
“This is what credit union’s 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!” states Dave Tate, vice president of Consumer Lending.
The loan is interest free for six months, and then provides additional 12 month payment period. It is priced at 1% below prime.