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FORUM is Here to Help: Coronavirus (COVID-19) Updates

 

As the world implements containment measures to slow the spread of the coronavirus COVID-19, FORUM recognizes members may experience financial strain as a result. FORUM is here for members to help lessen the impact of any potential financial distress by providing individualized solutions to our membership. Please note that FORUM Credit Union is considered an essential service and remains open during the Indiana Governor's order to stay at home. See below for modified branch service options available to members.   

 

Loan Payment Assistance 

If you are experiencing financial hardship due to a reduction of income or wish to discuss other assistance regarding your FORUM loans, please call 317.558.6271 so we can address your individual needs. You can also submit a hardship loan payment modification request online

 

Loan Options

If you are experiencing financial hardship due to a reduction of income and would like to discuss lending options, please call 317.558.6100

 

Branch Lobbies & Drive-Up Service

With the well-being of our employees and members in mind, and in compliance with local government and CDC recommendations to limit person-to-person interactions, FORUM is limiting branch service to drive-up only. Ten of FORUM's 13 branch locations offer drive-up service. View a full list of FORUM locations offering drive-up service. Lobby visits at most branch locations can be scheduled by appointment only. Schedule an appointment now!

 

Mobile & Online Account Access

FORUM has a comprehensive mobile app and online banking solution that provides 24/7 access to manage your accounts, make payments, deposit checks and much more. Business account holders also have a variety of options for accessing and managing their accounts online.     
 

Small Business Administration Injury Disaster Loans Now Open

Indiana small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL). 

  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills. 
  • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
  • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.
  • Apply online at SBA.gov/disaster
  • Need help? Access these step-by-step online instructions
  • Still need help?  Call the SBA's Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov.  Individuals who are deaf or hard-of-hearing can call 800-877-8339.
 

Small Business Administration Express Disaster Bridge Loans Now Available

The SBA Express Bridge Loan (EBL) program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. Ask your FORUM relationship manager for more details about this option. 

 

Wellness is a Priority

FORUM has a year-round, established wellness program in place for employees that includes the distribution of wellness tips and precautions. During this time of heightened awareness, we have asked employees to eliminate hand-to-hand contact, such as shaking hands, when greeting teammates, members, and guests. We appreciate your understanding of this precautionary measure.
 

Dedicated to Helping Members

As a cooperative, FORUM is dedicated to helping our members throughout their daily lives, including during times of unexpected need. 

FORUM is well prepared to service all of your financial needs now, and in the future, and we thank you for being a FORUM member.