CommStar Credit Union Assists Members Affected By Pandemic

Press release from CommStar Credit Union:

June 29, 2020

ELYRIA, Ohio— CommStar Credit Union awarded $13,215.14 in grants Friday to 30 of its
members who are facing financial hardship due to the COVID-19 pandemic.

The grants, funded by CommStar Credit Union and the Ohio Credit Union Foundation
(OCUF), were awarded to recipients in the form of one month’s loan payment. The affected
loans range from mortgages to personal loans, but the most common loan type is auto loans.
The average grant amount is $440.50.

President and Chief Executive Officer of CommStar Credit Union David Jezewski said
the program is consistent with the credit union ideal of putting people first. “For our members
effected by the pandemic, we didn’t want them to have to choose between making a loan
payment or keeping the lights on and a roof over their heads,” he said. “When we had the
opportunity to work with the Ohio Credit Union Foundation to help our members and give back
to the Lorain County community, we jumped on it,” he added.

“The great diversity of the people who applied for this grant opportunity is an example
that anyone could be suffering hardship as a result of the pandemic, and how different their
situations are that led them here,” said Erin Beese, CommStar’s Marketing Coordinator. “Some
grant applicants are construction workers who have seen a decrease in work hours, others
were laid off from office jobs, some are single mothers who had to stop working to care for
their children who were unexpectedly home from school,” she added. “Many are having issues
with Ohio’s unemployment system and still waiting for their unemployment insurance
payments.”

Some of the credit union’s grant recipients are facing hardship for the first time, and
others were already faced with pressing financial decisions before the pandemic hit, Beese
said. Some are college students who are just starting out, while others are elderly who have
not left their homes in months.

Jezewski said CommStar’s COVID-19 Pandemic Relief Grant program exemplifies the
credit union principle of “people helping people.”

“Credit unions operate on a not-for-profit, member-owned structure with a focus on the
principle of ‘people helping people.’ We try to demonstrate the principle whenever we can, by
giving back to our members and the community, and making a positive impact,” said Jezewski.
“Our applications and awards for this relief grant spanned all backgrounds and diversities that
are present in our community. We are proud to try and help all.”

About CommStar Credit Union

Since 1938 Lorain County has trusted CommStar Credit Union to provide its residents with dependable products and services with a uniquely personal touch. Offering a locally-based alternative to the “one- size-fits-most” mentality of banks, not-for-profit CommStar Credit Union boasts services tailored to its members’ needs. CommStar does not pay shareholders or a board of directors, allowing it to offer the same types of services as banks but at generally lower costs. This also translates to lower interest rates on loans and for higher dividends paid to members. Membership is open to anyone who lives, works, worships or attends school in Lorain County. With three convenient branch locations in Elyria, Lorain and Avon, Lorain County residents can love where they bank.

This press release was produced by CommStar Credit Union . The views expressed here are the author's own.