Chief Financial Credit Union named 2020 Best of MichBusiness honoree
Rochester Hills, MI - At Chief Financial Credit Union, "more than money" isn’t just a tagline. The phrase explains that the partnerships between employees, members and community partners is more valuable than any currency.
Throughout the past year, Chief worked to support the communities that its members call home, which led to the credit union being named a 2020 Best of MichBusiness Honoree. The Best of MichBusiness Awards celebrate the programs and companies that make Michigan a great place to live and work.
In 2020, the coronavirus pandemic caused financial uncertainty for businesses, nonprofit organizations and individuals. Chief stepped in to ease the burden, assisting more than 13,000 members in good standing by pausing all loan payment due dates from April through July.
In addition, the leadership team pivoted to work branch drive-thru lanes to answer questions and teach members how to bank remotely. While wait times at many institutions went through the roof, Chief transitioned team members to the Call Center team rather than furloughing them to maintain exceptional service levels through the drastic increase in calls.
Chief also guided more than 50 businesses and nonprofits, many that had been turned away by their home banking institutions, through the Paycheck Protection Program (PPP) loan application process so that these organizations could maintain cash flow.
“I am incredibly proud of our team; of their willingness to step up and help wherever needed”, said Chief’s President and CEO Tom Dluzen. “We knew it wasn’t going to be an easy year, but through dedication and communication were able to accomplish so much to support our employees, our members and the community.”
The credit union also launched Chief Cares 2020; a contest awarding $10,000 to the Michigan 501(c)3 organization that received the most votes. The winner was Grace Centers of Hope, a nonprofit that assists southeastern Michigan men, women, and children dealing with homelessness, domestic violence, addiction and abuse.
Although the past year brought unexpected challenges, Chief proudly invested in local communities and worked hard to support their member base throughout Metro Detroit. The credit union aims to continue this meaningful work through 2021 and beyond.