Consumer Relief Efforts | Standard Trust Credit Union

Standard Trust Credit Union
Consumer Relief Efforts

We stand by our customers, employees and communities in good times and during times of uncertainty and we remain committed to providing you the service you have come to expect from us.


Consumer Relief Actions 

Effective March 23, 2020 through May 31, 2020
The coronavirus pandemic is creating financial uncertainty for many customers. We recognize that our customers are actively monitoring the situation and evaluating their current and future financial needs. As such, we are happy to provide relief for our customers during this time of need.

  • Monthly maintenance fees associated with consumer checking and savings accounts will be waived. We will waive monthly maintenance fees associated with maintaining minimum balances on consumer checking and savings accounts beginning March 23, 2020 through May 31, 2020.
  • Foreign ATM fees assessed by Standard Trust Credit Union will be waived. Customers using other banks’ ATMs will not be assessed fees. Other banks and ATM operators may charge a fee and balance inquiry, withdrawal and international fees may apply.
  • CD early redemption fees will not be assessed. Customers who need to redeem a CD early will not be assessed an early redemption fee. We recognize that customers may need access to funds to take care of unexpected expenses or respond to changes caused by the current situation. Customers must contact us to redeem any CDs.

Effective April 1, 2020 through July 1, 2020 the following relief will be available on consumer loans:

  • Late fees on all consumer loans will be waived.The late fees on all consumer loans will be automatically waived for customers.
  • No payment will be required on consumer credit cards. Most credit card customers, who are currently in good standing, will automatically see a $0 minimum due on statements beginning on April 1, 2020. Interest will continue to accrue on the unpaid balance at your current interest rate during the period that the payments are deferred, which may result in higher finance charges over the life of the loan. Customers who have auto-payment set up for their credit card account will need to contact card services at by the 15th of the month to help them setup no payment due on consumer credit cards. 

Enroll by May 31 to defer your consumer installment loan payments

  • Customers may elect payment deferral on most consumer installment loans. Consumers may elect to defer all payments on most consumer installment loans without penalty. This will not be done automatically for customers. Enrollment is required for participation in this program. If you enroll by May 31, you can defer the next 3 monthly payments due. Enroll and learn more below.

Consumer Loan Deferral Program


Coronavirus Aid, Relief, and Economic Security (CARES) Act Enactment - March 30, 2020

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted, representing one of the largest emergency aid and economic assistance programs ever adopted. Although guidelines on the implementation of the CARES Act have not yet been shared with financial institutions, we recognize the importance of communicating information about the CARES Act, and how it could potentially assist you.


CARES Act Programs for Individuals