Dear Fellow Members,
On Monday, June 8th, BHCU will allow members lobby access at our offices to conduct their banking business. It is expected by that time Delaware County will be within the “Yellow Phase” of Governor Wolf’s reopening plan. However, many restrictions will remain in place. Specifically, at this time, members entering the credit union’s offices will be required to wear face masks and maintain appropriate social distancing between themselves, our staff, and other members. Signage will be posted with these requirements along with other reminders at office entrances. Anyone refusing to abide by the written instructions may experience a service disruption until they are able to comply. In addition, the number of members permitted into the lobby will be limited.
Please also be aware that you may be asked to temporarily remove your mask to complete your transaction if credit union staff is unable to accurately identify you with the mask in place. Further, we ask that if you are not feeling well, have a fever or other symptoms, you refrain from coming into the office.
As we reopen the offices, you should feel confident that the BHCU staff is doing everything it can to make your in-person experience safe and efficient. All public areas will be frequently sanitized, and all credit union staff are monitored each day for their own symptoms including daily temperature checks. We have eliminated the need for in-person signing for transaction receipts and reduced other obligations that were common “high-touch” activities.
We strongly encourage you to continue to utilize our online and mobile banking applications to minimize your personal exposure to risk unnecessarily. Hopefully by now you have taken advantage of these great tools that provide complete access to your accounts and the ability to perform any transaction you need securely right from your phone or tablet. The night drop at both locations will continue to be available for members to use allowing them to avoid waiting in the lobby.
Personally, I would like to thank all our members for their patience, understanding and cooperation as we navigate through these difficult times. BHCU is YOUR Credit Union and the staff and I consider it a privilege to represent the membership and provide these services to all our fellow members.
We will keep you apprised of any updates as soon as they become available. We look forward to seeing you soon. In the meantime, stay well.
Gary M. Golden
Left to right: Business Development Officer, Jim Pace; CEO, Gary Golden; Commercial Credit Officer, Jerry Dorn.
BHCU — Your Delaware County Credit Union — is proud to report that 100% of their small business members who submitted all of the appropriate documents for a Paycheck Protection Program (PPP) loan received the funding they were looking for. Compared to a report released by the Small Business Administration — which found that 44% of the first round of PPP money went to just 4% of applicants and only 8% of small business applications received money in the first phase — it’s safe to say that BHCU has accomplished a feat for its members.
The BHCU team knew that larger financial institutions were going to seize most of the available PPP money for larger companies, which is why they were fully prepared to service their small business members when they needed them the most. Although small business owners continue to face uncertainty as a result of the coronavirus pandemic, one thing is certain: BHCU’s commitment to helping Delco businesses is stronger than ever.
“We know that many small business owners are often overlooked or even ignored by major financial institutions. More so now than ever before, it was critical for us to move quickly to ensure our business members were getting the attention they deserve,” said BHCU CEO, Gary Golden.
Thanks to their proactive efforts, the BHCU team has achieved a 100% conversion rate of their PPP applicants with 107 total loans paid to date totaling $7.7 million for their business members.
“We were so pleased with the speed, accuracy, clear communication and dedication to helping our business,” commented Laura Sperratore, Chief Operating Officer of Sperr’s Fuel and Heating in Glen Mills, PA. “Commercial Credit Officer, Jerry Dorn, did not just help us through the PPP loan process, but listened and learned about our business, our needs and our goals. The relationship-building piece cannot be overstated. The follow up phone calls with others at BHCU were extremely helpful as well and made us feel like we are in this together.”
As with many small business owners, COVID-19 obviously presented an extreme financial challenge for Matt and Sabrina Kelley, owners of Prodigy Pest Solutions located in Morton. “We tried, unsuccessfully, to apply for the PPP loan through our accountant and were fearful we would not be able to get help. After speaking with BHCU, we felt like there might be some hope. They walked us through the application process, ensuring that all our necessary documentation was there, and we were quickly approved.”
Sherry Varone, CEO of The Ultimate Shave in Glen Mills, shared a similar story. “My experience with BHCU in obtaining a PPP Loan has been nothing short of excellent. Business Development Officer, Jim Pace, kept me informed throughout the process. He kept in constant contact and was very diligent with sharing relevant information since the terms of the loan are constantly being updated. As a new BHCU member, I’m impressed with how everything was handled and the outstanding member service they provide.”
BHCU has been fighting for their members since 1952, and it is clear that they show no signs of stopping. As always, they are committed to helping the members of their community, and they will continue to be proactive throughout this pandemic and long afterwards, so they can help their members on their journey to financial independence.
Founded in 1952 in Ridley Park, Pennsylvania, BHCU, your Delaware County credit union, is a federally insured credit union that provides comprehensive banking services to its members. BHCU is a community-based credit union, exclusively serving Delaware County, PA. Throughout our history, we have maintained an unwavering commitment to helping members save, offering excellent rates and dividends, fair fees and expert advice.
We know that these times have been challenging for everyone, and the COVID-19 pandemic has impacted the financial situation of both small business owners and consumers. Fortunately, stimulus packages have been created to help business owners and consumers get through financial hardships: A Paycheck Protection Program of $350 billion is being offered for small business loans; an Economic Impact Payment from the Internal Revenue Service (IRS) will be paid to consumers. While that’s the good news, here’s the bad news: Even in times of crisis, scammers are still looking for new ways to steal information and money from you. Whether you’re a business owner or consumer, the experts at BHCU, your Delaware County credit union, are here with four signs that you’re being scammed.
Trust Your Gut When It Comes to Suspicious Calls or Email
Right now, scammers are posing as lenders, the Social Security Administration and the World Health Organization, and they are calling, texting and emailing people about deals that seem too good to be true. Messaging from these scammers will claim a variety of things, such as:
- Your business being approved for a loan
- An offer for a grant or stimulus payments
- A COVID-19 kit
- A coronavirus Medicare package
- Claiming that your Social Security number has been suspended
These scenarios will always require you to give your information in exchange for what they are offering. If you receive a call, text or email that doesn’t seem right, trust your gut! These scammers are trying to steal your business’s private information — which they can use to apply for a loan under your name (which you’ll be responsible for paying) — or your identity and money.
Feel Weary When There’s a Fee Involved
If you’re offered a loan or payment that claims you’ll receive it quickly — but with a fee — don’t trust it. Faster doesn’t always mean better, and in this case, it certainly doesn’t mean safer. In fact, the CARES Act states that business owners are not required to pay ANY fees, such as application, package or closing fees, so this is a sure sign that it’s a scam. Plus, if you’re eligible for the IRS’s Economic Impact Payment, the amount you receive will be automatic for most taxpayers (with NO fees), and if it isn’t automatic for you, you will receive a letter from the IRS.
Avoid Unknown Lenders
Although lenders aren’t required to be on SBA’s list of preferred lenders in order to process an SBA loan, they do have to have preferred status. If they don’t — and they aren’t scamming you — they’ll first have to achieve preferred status before granting you your loan, and this can take an unforeseeable amount of time. Avoid this altogether by choosing BHCU! With a variety of business loans, lines of credit and credit cards, we’ll do everything we can to get you approved, so you can keep your business — and your life — running efficiently and successfully.
Steer Clear of Promises That Seem Too Good to Be True
Similar to scammers promising to get you a loan quickly (but for a fee), they may also try to convince you that they can get you an SBA loan under the new PPP — or a stimulus payment — in only a few hours. If this happens, avoid them at all costs. Additionally, if you’re offered a quick advance that isn’t related to the new PPP or Economic Impact Payment, you should avoid all of these as well, because they may result in fast repayment terms, outrageous interest rates and identify theft. In challenging times where you need help managing your financial expenses, such as during the COVID-19 pandemic, your best and safest plan of action is to join BHCU and contact our financial experts.
Now that you know the four signs that you’re being scammed, you can avoid them and keep your business’s and/or personal information safe! If you need help navigating your finances during this time of uncertainty, we want you to know that BHCU in Delaware County, PA is here for you, so contact us today.
Dear Fellow Members,
As we begin our second week operating with restricted lobby access in our offices, I would like to take this opportunity to thank all of our members for your patience and flexibility as we navigate through these uncertain times.
I’d also like to remind everyone again that these uncertain times are a bonanza for fraudsters trying to take advantage of people with new tactics. Fraudsters have been quick to deploy scams involving the coronavirus stimulus packages and with email phishing attempts using fake websites and links that appear to be from the Federal or State Governments and the Center for Disease Control (“CDC”). If you receive such emails, we highly suggest you do not open any unsolicited emails from unknown sources and of course do not click on any links contained in them. When on-line always go directly to any website you are looking for rather than linking to it from an email.
As we’ve said previously, BHCU will NEVER send you an email or call you and ask for your account information. Anyone that does, especially when referring to any type of direct deposit coming from the government, is a potential fraud. No government agency is going to call you asking for your account details. If you are ever uncertain about a call or email you receive, hang up and call your credit union or other financial institution directly to ask any questions you may have.
Even if you are unable to meet with us in-person as usual, the BHCU staff remain committed to serving your needs.
We hope you all stay well and financially healthy too.
Gary M. Golden
Dear Fellow Members,
The health and safety of our members, employees and our community in general are of the utmost importance to us. We continue to monitor and act on all available information on the reported spread of COVID-19.
As a result of the current conditions, BHCU will restrict access to its office lobbies effective Thursday April 2, 2020. Necessary transactions will be accepted at the door only. Lobby access will also be available by appointment. Appointments may be made via phone (610-595-2929) or website.
This decision was not undertaken lightly, and we know this creates an inconvenience. However, these are unprecedented times and call for us to do our part to keep our members safe. We will reopen lobby access as soon as we can safely do so.
Please be aware our office in Glen Mills and Ridley Park have fully functioning ATMs available 24/7 as well as a free night-deposit drop that all members may use for deposits or other paperwork.
We strongly encourage using online or mobile banking. If you haven’t done so already, please be sure to request a BHCU Visa debit card as an efficient way to access your money. Many retailers in our area are discouraging the use of cash making a debit card the most sensible way to make purchases while keeping your money safe, secure and insured.
Rest assured we are available to handle all of your banking needs. Our complete line of products and services remain fully available and accessible through all other normal channels.
Please check our website often for updates.
We often say we are on this journey together and in times like these this is especially true. We value your trust and support of BHCU, Your Delaware County Credit Union.
Gary M. Golden
Dear Fellow Members,
We hope everyone is staying healthy and managing through the coronavirus crisis as well as possible. As your credit union operates through these uncertain times, I’d like to remind everyone it remains a good time to familiarize yourselves with all the alternative methods of accessing your BHCU accounts. While we remain available to serve you as needed in both our office locations, be sure that your online banking and mobile apps are up to date. Likewise, please ensure we have all your contact information up to date including emails. We may need to provide important information to you quickly and email is a very efficient way of doing so.
If you do need to come to our office, please respect your fellow members and our staff by practicing the recommended social distancing. Of course, if you are not feeling well, we ask you utilize the remote contact methods available online or over the phone. In addition, due to our reduced staff schedule, please be aware that service times may be slightly longer than usual. We appreciate your patience during this time.
Unfortunately, in times of crisis there are those who seek to take advantage of the uncertainty and confusion around us. We are already aware of several new scams targeting certain areas and our members. These scams take the form of bogus emails and “phishing” attempts as well as via telephone and even regular mail. If you receive an unsolicited email from an unknown party, do not open it or click on any links within it. If it is from a company you do business with, better to close out your email and go directly to the company’s website directly rather than clicking on an email link which could be sending you to a fake website.
As a BHCU member, we want you to know that we will never randomly call you and ask for any account details over the phone nor we will send any emails that ask you to enter your personal account information. If you receive a BHCU email that you are not certain is real, please call us and let us know. Likewise, if any person or company asks you for your BHCU account information, we highly recommend you check with us first. Of course, if you call us, communicate via email or visit us in person, we will require you to verify your identity for your protection.
As a checking account holder with BHCU, if you believe your identity or account information has been compromised, know that we’ve got you covered. Our identify theft and recovery service is free to all our checking account members. You can learn more about this valuable service here.
Lastly, for those affected by the current economic slowdown, your BHCU team knows your financial health is important too. We’ll be here when you need us.
Gary M. Golden