There are more questions than answers currently. People want to know when will COVID-19 end, when this recession will end, when the civil unrest will end. Some of the current disruption will take years to work out. Other unknowns will resolve sooner than anticipated.
As stewards of your credit union and your trust, we have diligently thought through and planned for a variety of different outcomes. We have examined not only the likely, but also many unlikely situations. We are prepared as a credit union to skillfully sail through the current storms.
Under the current financial environment, your credit union is standing strong. By nature, your credit union is a counter-cyclical business. Simply stated, when other businesses are struggling, we do quite well. Sure, we have been slightly impacted like many others, but by our design, we are structured to thrive in unknown circumstances. That is why I can say with an unwavering voice, that we will be here for you today and tomorrow.
Yes, we have reopened our lobby. Yes, we are currently providing superior rates for our savers. Yes, it is business as usual for our lending products, including 1.99% car loans and 2.99% jumbo mortgages (see the promotions in our newsletter). We are forging a path forward. If you need us, we are always here to guide the way for you, your families, and our community.
The Glendale Unified School District is handling these current situations well. While it is not easy to account for the many unknowns and deliver quality education, the district is stretching to meet all its goals. They need our support, which we will gladly supply, and they will be needing your support, as we move forward. I ask you to be patient and supportive of GUSD as it continues to meet the educational needs of our students. We will be a better community, united.
Our hearts are heavy as we process the tragic death of George Floyd, a man who was killed while in the custody of Minneapolis police officers. The actions of the officers captured during the video are deeply disturbing. Many of our community members are justifiably outraged, and so are we. We stand united against injustice and we support the necessary reforms that will make our community better and a safer place for all.
Finally, know that your credit union will be more active in the local community. Unfortunately, there will be some dark times ahead. Fears concerning health, financial solvency, and societal impact will run rampant, but we will continue to light a path forward. We believe in service; serving the member, serving the community, serving each other. We believe in positive interactions between people. We can accomplish much together.
Wesley Walton, CEO
Glendale Area Schools Credit Union