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VyStar announces COVID-19 loan relief programs

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JACKSONVILLE, Fla. – VyStar Credit Union announced Tuesday several loan relief programs designed to lessen the stress that members may experience due to the loss to loss of a job or other losses that make it difficult to meet their immediate financial obligations.

“We recognize the financial strain many of our members are experiencing due to concerns over the coronavirus and we want them to know we are here for them,” VyStar said in a statement announcing the program. “VyStar wishes the best for our members, employees and the communities we serve. Together, we will get through these challenging times.”

At the same time, VyStar is working on a partnership with the city of Jacksonville to help keep local businesses afloat.

At a virtual City Council meeting Tuesday, Mayor Lenny Curry announced he will soon submit legislation to enter into a partnership with VYSTAR credit union that could help keep local businesses afloat

“To help companies staying busy and retain their employee, we are looking at a $20-$30 million program with a combination of grants, interest payments and potential aid for the principle of the loan," Curry said. "It is my intention that the city portion of this program will be focused on small businesses, with some elements tied to employee retention.”

The personal relief programs were implemented so members can focus on what matters most during this critical time: their health and the health of their loved ones.

VyStar’s relief programs are associated with the following:

  • Consumer loans and credit cards
  • Mortgage loans
  • Commercial loans
  • Fees and service charges

Some of these programs are automatic and some require members to initiate further action and provide documentation. For specific details, qualifications and next steps, please visit www.vystarcu.org/coronavirus.