WFCU Offers Relief To Flood Victims
Tuesday's flooding has left many residents throughout Windsor-Essex with a mess to clean up, and WFCU Credit Union wants to help.
President and CEO Eddie Francis says, in response to inquiries by current customers and members of the community, the credit union will be offering a "hassle free" loan of up to $10,000 over four years at 3.69% interest to homeowners who qualify.
"Right now our normal interest rate, if you qualify, is around 6.99%, so it's significantly less then what we normal do," he says.
Thousands of homeowners throughout Windsor-Essex may be facing substantial deductibles, being dropped from their insurance provider because of past flood claims, or having no insurance at all.
Francis says those in need of financial assistance to clean-up and restore their homes, won't have to wonder where the money is going to come from.
"It's quick, it's hassle free and hopefully that money can be used to help people pay their deductible, to help people start planning how to restore their homes, and how to deal with what they need to deal with without having to worry about the financial burden of where they're going to get the money from," Francis says.
He told AM800 News no timeline has been set, but if homeowners qualify it will be offered as long as it is needed in the community.
"We haven't put a timeline on it yet, so I guess we'll continue to offer it as long as people need it," says Francis. "I can say that it's there, it's available, and we hope that people that need it will come and make use of it."
Francis says residents can call WFCU, visit www.wfcu.ca, or stop by any of the credit union's nine branches throughout Windsor and Essex County for more information.