Jacksonville area banks working to calm customers during coronavirus pandemic

JACKSONVILLE, Fla. — Banks across the country are working with homeowners who aren’t earning a paycheck right now.

As businesses temporarily close up shop and employees are left without work, 121 Financial Credit Union branch manager Douglas Jones says now is the time to find out if your bank is among those making policy changes because of COVID-19.

“We created a program to be sure if members need any type of assistance, we can do so. If they need any deferments or having a hardship during this time, we are here to assist them in any way possible,” Jones said.

The virus has found its way into nearly every area of life imaginable. This includes people’s pocketbooks.

Jones says the good news is, if you can’t make your next house payment, it’s possible you have options.

Jones says auto loans and home mortgages can be deferred up to 90 days and any overdraft fees will be credited back to your accounts.

After the 2008 financial crisis, many homeowners stopped paying their home loans, leading to thousands of foreclosures, so now is the best time to call your bank.

“One of the most challenging things that we have experienced so far at the credit union is for our members who are not familiar with online platforms,” Jones said, adding that they’re doing what they can to calm fears.

“We have beefed up our support in the contacts center department as well as using internet channels like docu-signs and emails,” Jones added.

Also, some of the nation’s biggest banks are waiving fees and offering personal loans with a low to zero interest rate; including Vystar, Wells Fargo, Navy Federal Credit Union and BBVA.

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