The Champion CU Member Relief Fund was established to provide financial assistance in the form of a grant to members who are experiencing financial hardship due to events beyond their control, including disasters, extended illnesses or injuries, and other special situations. The Champion CU Member Relief Fund does not aid with non-emergency situations or financial difficulties due to poor financial management, judgement, or negligence. Assistance for emergencies and crisis situations are considered on a case-by-case basis, and requested funding is not guaranteed.
- Circumstances involving loss of household income (i.e., job loss, major illness causing medical debt, etc.). In these situations, the event must have already taken place, and the financial hardship is underway.
* What is financial hardship? In accordance with the IRS, financial hardship must be demonstrated in order to receive grant funding and is understood to mean negative monthly household income, meaning there isn't enough income and limited to no savings to meet your financial obligations. For example, in the case of job loss/closure of a facility, the date of the event is the first day you are no longer working, not the date of the announcement. In this example, assuming you had not found another job of comparable wages, you would apply after losing employment and after your savings reserves, if any, have been exhausted.
- In circumstances involving natural disasters, loss of personal property that you own (i.e., house, car).
- Losses not covered by insurance or government relief (FEMA, etc.). In these cases, documents showing the gap in coverage must be included in your application.
- To apply, you must be a member in good standing with Champion Credit Union and must have been a member of Champion Credit Union at the time of the event causing the hardship.
- The maximum relief grant amount is $2,000 per household per event/hardship. Only one grant per household can be received in a 12-month period.