Local Helping Local: Small support during COVID-19

As the world faces a global pandemic, local businesses and
nonprofit organizations face a financial unknown. Small businesses faced
possibly the worst effects of the financial impacts of the COVID-19
crisis in Michigan, but one local credit union worked to help weather
the storm.

Chief Financial Credit Union, a small credit union headquartered in
Rochester Hills, MI, spent countless hours guiding businesses and
nonprofit organizations through Paycheck Protection Program (PPP) loans,
many of which had been turned away by their home banking institutions.

“We just knew we had to help, so it was decided that my role would
completely pivot to field the PPP loan program,” said Ashley
Werkmeister, Chief Financial Credit Union director of business
development. “In a matter of weeks, we helped more than 50 businesses
and nonprofits get approved for funding vital to keep paying their staff
and survive this crisis.”

One nonprofit helped by Chief Financial Credit Union, Clinton River
Watershed Council, applied for a PPP loan to assist with keeping their
small team of 10 employed during and after the crisis.

“As a nonprofit, we were concerned that some of our regular revenue
streams, including two events, were at risk due to the growing
pandemic,” said Anne Brasie, Clinton River Watershed Council executive
director. “We have seven full time staff and three part time staff.
Chief Financial was patient with us and walked us through the entire
process.”

“When we heard how businesses were struggling, we took steps to align
with PPP loans so that we could start supporting them as soon as
possible,” said Chief Financial President and CEO, Tom Dluzen. “When
you’re a part of a community, the businesses struggling are your
neighbors, your members, and your friends. Many came to us after being
turned away from their financial institutions first. Saving jobs and
keeping lights on is why we stepped up, and we are so grateful we were
able to support so many local organizations.”

For Chief Financial and its team, “More than money” is not just a
tagline. It is the company culture that Chief has created and the fuel
that drives its mission.

“Working with Chief Financial though the COVID-19 pandemic was
surreal,” said Jeremy Fishman, TreeRunner Adventure Parks vice
president, business development and strategy. “They are one of the few
organizations we have worked with that have been so caring and
supportive that it almost feels as though times are normal. Our
appreciation for Chief is tremendous!”

Chief Financial Credit Union is the only financial institution
headquartered in the Greater Rochester Area. With a commitment to
empowering financial success and inspiring creative philanthropy, Chief
Financial has been meeting the needs of its members since 1941 through
its branch locations in Pontiac, Dearborn and Rochester Hills, Michigan.
Chief Financial is also the official credit union of Leader Dogs for
the Blind and Rochester University. For more information, visit
www.chiefonline.com.