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Cabrillo Credit Union Saved Members over $150,000 During the First Few Months of the COVID-19 Pandemic

San Diego CA Cabrillo Credit Union strongly believes in doing what it takes to help their members, their staff and their community.

 Since the beginning of the COVID-19 Pandemic, Cabrillo Credit Union put programs in place to support their members, including: skipping loan payments, waiving fees, offering a Pandemic Assistance Loan, and more.

 Beginning in March, Cabrillo provided members with the opportunity to skip their qualified Cabrillo loan payments for up to three months, while waiving any loan skipping fees. This included auto loans, personal loans, credit cards, and even real estate loans.

 Between March and June, Cabrillo members skipped over 6,300 loan payments, totaling over $1,100,000.  This helped keep money in the hands of their members, during a time when they needed it most.

 The credit union also waived select fees, including cashier’s check fees, foreign ATM fees, wire transfers and more, and will continue to do so through September 2020, to provide continued support for their members.

 All of these programs and initiatives have collectively saved Cabrillo members over $150,000 in fees…and more importantly, has provided them peace of mind during this exceptionally uncertain time.

 “Because of Cabrillo, I was able to return to the US after being trapped overseas during Covid. Cabrillo’s loan during my time of need has helped me get back to my life and my job. Thanks, Cabrillo!” said Mr. Darby, a 25-year member of Cabrillo.

 “Helping our members during these stressful times has been our highest priority.  As a credit union, we will continue to find ways to support our members. Not just because of the Pandemic, but because it is the right thing to do. It’s the Cabrillo way!” said Michael DeShazo, Cabrillo Credit Union’s President and CEO.

 Realizing that taking care of their employees was critical to their success, very early in the pandemic, the credit union implemented a multifaceted program to support their employees.  The program included pay adjustments and regularly scheduled Paid Time Off, so that employees would have time to fight the long lines and get their shopping done.  Post pandemic extra vacation days were also granted, so that employees would have the opportunity to kick back and relax once things returned to normal.

“One of the main reasons that Cabrillo has been so successful over the past 65 years has been because of our employees.  Their passion and enthusiasm for providing our members with the best support possible, really sets us apart.”  

“In order for our employees to be able to support our members, it was vital that the credit union supported them.  It was very easy for our Leadership team and Board of Directors to make the decision to create a special program for our employees during the pandemic.  We realized that by providing them some peace of mind, they would be better equipped to support our members, regardless of how stressful things became”, said DeShazo.

This investment really paid off.  Since the beginning of the Pandemic all Cabrillo branches have remained open, and members have full access to accounts and transactions via Cabrillo’s online banking platform, eBranch.

About Cabrillo Credit Union

Cabrillo Credit Union was established in 1955, to serve Border Patrol agents in San Diego. Today it serves as the primary financial institution for those employed by the U.S. Border Patrol and other federal agencies in the San Diego area. Cabrillo CU also serves Sharp HealthCare, Carlsbad City employees, and is open to anyone who lives or works in San Diego County.

With four branches in the San Diego area, plus access to 30,000 ATMs and 5,500 Shared Branches, Cabrillo Credit Union makes managing your money easy.  Their cutting-edge online & mobile platform gives Cabrillo members 24/7 access to checking balances, paying bills, depositing checks, even performing free inter-institution transactions.

For more information, visit their website at www.cabrillocu.com

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