VPCU Pandemic Response Plan

March 12, 2020


Attention VPCU Members: Thank you for your patience, understanding and support. VPCU's Pandemic Response Plan is in full effect so please check back to this webpage for updates.

CURRENT HOURS OF OPERATION


AVAILABLE BY PHONE OR EMAIL: 8AM TO 4PM

AVAILABLE IN PERSON AT GRAVELEY BRANCH: 8AM TO 1130AM

AVAILABLE IN PERSON AT VICTORIA DRIVE BRANCH: 11AM TO 3PM


UPDATES

Update April 1, 2020: The Government of Canada announced immediate action to assist Canadians facing hardship as a result of the COVID-19 outbreak.  One of these measures includes a flexible 25% reduction of the required 2020 RRIF minimum payment to provide relief to concerned seniors who are required to redeem assets in this volatile market. Due to recent guidance received by the Government of Canada, the RRIF reduction does not apply to minimum payments already taken.
 
Please refer to the CRA Q&A for further details by clicking HERE.

Update March 30, 2020: We would like to advise you that our Visa cardholder partner, Collabria Financial has implement a financial assistance plan to all Visa cardholders that require financial support during the COVID-19 crises. For more information, please click HERE.

Update March 25, 2020: We would like to advise members that have, or are planning to request a loan or mortgage deferral, that interest continues to accrue on the respective loans and mortgages. When the scheduled repayment resumes, the majority of each payment will consist primarily of interest until all the accrued interest is brought up to date. Depending on the length of the deferral, the loan or mortgage payment may consist primarily of interest for a number of months. VPCU will not require members to "catch up" on their missed principal portion of their loan payments. Instead, members will have a larger outstanding principal balance at the time of renewal. Should members wish to "catch up" on their missed principal payments, they may do so and they may contact VPCU's lending department for more information on the exact amounts.

At this time, there has been no indication from the various levels of government on whether or not there will be interest relief provided for those with loans or mortgages. We remain in close contact with government officials and will update our members accordingly in due course. Furthermore, we have received a number of questions in regards to our members' credit ratings in the event they obtained a deferral. Please note that your credit rating will not be affected in the event you have obtained a loan deferral. 

In terms of loan and mortgage processing, we continue to review requests as per usual by phone and by email only. However, for members seeking to purchase a new home and requiring a mortgage to do so, please note that there will be challenges in facilitating the completion of a home sale. At this time, lawyers and notaries have advised us that there is limited capacity to accommodate accordingly. We would recommend any members planning on completing a home sale to check with their lawyer/notary and connect with the selling party to request extensions or other accommodations if needed. Although VPCU has Docusign capabilities for electronic signing, we cannot complete the purchase transaction without the assistance of the lawyer/notary. Furthermore, for certain types of mortgage financing that require an in-person appraiser to assess the home, these requests may be delayed or may not be available due to the appraisal companies’ social distancing policies. VPCU will endeavor to accommodate as best we can and will review any of these situations on a case by case basis. Many of our mortgage applications can be completed with an online appraisal review, but there are some properties where this option is not available.

Please stay tuned for more updates. If you have any questions please send them to loans@vpcu.com.


Update March 23, 2020: We have suspended all Interac e-transfer fees for our members until further notice due to the reduced service levels in the branch as a means of lessening the impact on our members. Also, please note our revised branch in-person hours beginning tomorrow, March 24, 2020.

Revised In-Branch Hours of Operation (effective March 24, 2020)
Graveley Street Branch: 8am to 1130am
Victoria Drive Branch: 11am to 3pm

Accessing your account information
We remain fully operational by phone or by email, but with reduced hours for in-branch member service. Please see below for more details. Accessing your funds and information has not changed. However, in-branch appointments with the Lending Officers will now be conducted via phone or electronically until further notice.

Contact us at 604-683-2434 or vpcu.com or info@vpcu.com

You can feel fully confident that your money is accessible and secure.


Update March 20, 2020: Any members experiencing challenging financial circumstances and require assistance in the form of a loan or mortgage payment deferral are encouraged to email their request to loans@vpcu.com. Please provide as much detail as you can and keep us updated periodically on your situation. We are reviewing all requests on a case by case basis as each of our member's needs are unique. We are committed to working with our members to find creative solutions to provide them with peace of mind. As the COVID-19 situation continues to evolve, so will our action plan to assist our members. Please check back regularly to this website for updates.

Pandemic Response Plan 

The COVID-19 virus is a significant item in the news. The risk is still ranked as low for the general population in Canada, but this could change rapidly.
 

Credit/Financial Assistance
Should you or your family be negatively impacted financially as a result of the COVID-19 situation, please contact our lending department by phone 778-945-9448 or by email at loans@vpcu.com. VPCU is ready to help our members navigate through this challenging time. Please advise us of your situation and we will do our utmost to accommodate accordingly. 


Our Promise to our Members
To help encourage good hygiene practices, hand sanitizing products are located at all work stations. Hands can transmit infectious material (for example saliva or other body fluids that may contain viruses) to the mouth, nose or eyes, where there is a direct route of entry into the body. We encourage using the hand wipes when you visit our branches.

During a pandemic, thorough workplace cleaning measures are required to minimize the transmission of virus through non-porous (i.e doorknobs, sinks) and porous surfaces (i.e. curtains, chairs, cubical walls) as some viruses can live up to two days on surfaces.
 
We have cleaned and/or disinfected our desks, workstations, fax/photocopier/printers, coffee machines, fridge handles, doorknobs, telephones, light switches.
 
Employee Protection
Employee protection involves providing a safe and healthy work environment for all our employees prior to, during and after a pandemic. We have ensured:
  • Providing basic hygiene products and training to employees
  • Establishing workplace cleaning guidelines.
 
Hand washing is an important way to reduce transmission of infectious diseases. Running water and non-abrasive hand soap must be used for at least 30 seconds when washing. It is important to dry hands either mechanically or with disposable toweling after washing.
 
Communication Strategy
Communication is an important element of a pandemic response plan. It is critical to effectively communicate before, during and after an epidemic or pandemic. Our Communication Plan includes:
  • Awareness – our employees are aware on the hazards associated with the virus (including symptoms) and procedures to isolate and report cases in order to reduce exposures.
  • Reporting – we commit to reporting to the local health department if dealing with a potentially infected individual. We adhere to recommendations of the local health department.
 
We respectfully ask our members to NOT ENTER our branches if you:
  • Have a fever
  • Are not feeling well
  • Have been out of the country during the past 21 days
Please help to do your part to contribute to the control of COVID 19


We will keep you informed of any service disruptions and will update this webpage accordingly.
 
 
 
Novel Coronavirus (2019-nCoV)
Coronavirus is a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome and Severe Acute Respiratory Syndrome. A novel coronavirus is a new strain that has not been previously identified in humans. Coronaviruses are zoonotic, meaning they are transmitted between animals and humans.
 
Symptoms
Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.
 
Transmission
Non-seasonal influenza is spread through close contact with live, infected animals.
 
Diagnoses
Coronavirus infections are diagnosed by a health care provider based on symptoms and are confirmed through laboratory tests.
 
Prevention
  • Wash your hands frequently with soap and water or use an alcohol-based hand rub if your hands are not visibly dirty.
  • Practice food safety. Avoid consumption of raw or undercooked animal products.
  • Ensure you are familiar with the symptoms.
  • If you develop a fever accompanied with cough and muscle pain, immediately seek a health care professional’s advice.
  • Be aware and follow the recommended actions from your local physician or health provider.
  • If you are quarantined by health authorities, inform your work site supervisor or appropriate personnel or family member.
  • It is normal to feel sad, stressed, confused, scared or angry during a crisis. Talking to people you trust can help.
 
For up to date information we follow: