Coronavirus (COVID-19) Updates

5/21/20: Lobby Reopening Update

TBA Credit Union’s mission is to serve the community and build trusted relationships. We strive to provide excellent service to our members, our staff and our community. This Friday many businesses will be reopening. Out of an overabundance of caution, we are going to delay reopening our lobbies until we have all safety measures in place.

We’ve been working hard behind the scenes to re-envision the TBACU lobby experience while keeping our staff and members safe. We have some new ideas on how we will conduct business moving forward, but we are waiting until we know we can serve you in a way that takes care of our staff and community.

In the meantime, our drive thru lanes remain open from 9 am-5 pm, Monday-Friday. You can call or text our local Service Center from 8 am-6 pm Monday-Friday, and we are accepting appointments for essential services (safe deposit box, etc.). In addition, we offer many online resources for members to conveniently access banking needs:

• Download the TBACU Mobile App for convenient access to all your banking needs including account activity, card control, Remote Deposit Capture, and so much more.
• Visit our website to learn more about our product and service offerings.
• Log in to It’sMe247 online banking to access your account, transfer money, and utilize our free Bill Pay service.

Thank you for your continued membership as we adjust to our new “normal.” We can’t wait to see our members again in our lobbies!

5/04/20: Updated Member Relief Program

Effective Monday, May 4 through May 29, the following relief program will be available for members.

  • Income Supplement Loans as low as 4.99% for qualified borrowers.

In doing so we hope to ease a bit of the financial stress you may be feeling right now. Login to It’sMe247 to apply for the Income Supllement Loan.

Download our mobile app to access to your accounts 24/7. Check balances, transfer funds, pay bills, deposit checks, apply for a variety of loans, and more. TBACU’s Service Center is available from 8 am-6 pm by calling or texting 231-946-7090. TBACU’s lobbies remain closed and while loans can be originated electronically, they will set up appointments for urgent/essential needs following their internal COVID-19 mitigation protocol. Utilize TBACU’s ATM’s for quick access to cash. Drive thru service is available at the South Airport and Front Street branches Monday through Friday, from 9 am-5 pm. Member Service Representatives are available to assist with deposits, withdrawals, and check cashing.

4/30/20: Automatic Skip Payment for Eligible Consumer and Business Loans

For the months of May and June, all eligible* TBACU members with a consumer or business term loan will not have a payment due to help provide further relief during the COVID-19 Pandemic.

This includes loans that have the same payment amount each month for your cars, boats, RVs, ATVs, motorcycles, snowmobiles, Bicycles, UCC (Uniform Commercial Code) secured and other similar loans with fixed terms.

In addition to helping with consumer & business term loans, eligible VISA accounts will not have a payment due for the month of May! Your April statement will show a zero payment due if you qualify.

If you are signed up for AFT (automatic fund transfers) by TBACU or ACH (automatic clearing house) from another financial institution, your payments will continue to be processed. You must cancel any automatic payment(s) that you do not want processed at least 2 business days prior to the payment pull date. TBACU members signed up for AFT can cancel payments by texting or calling our Service Center Team at 231.946.7090.

As of Friday, May 1st, your payment will show as due in July. Please keep in mind these payments do not go away, the loan term will extend by the number of skipped payments. If you don’t want your loan term extended, you can still make your May and June payments.

TBACU allows for loans to be no more than two payments ahead so if the payment already shows due for July, the due date will not change. If the May payment has already been made, then the system will automatically skip the June payment and the loan will be due for July.

*To be eligible, member loans must:

  •  Be less than eleven (11) days past its due date
  • have less than three (3) past due payments during the life of the loan
  • not be in a current collection status
  • not be restricted from normal activity

TBACU is here to support our members during these tough times. If you need additional help, or have questions, please call or text our Service Center team at 231.946.7090, Monday-Friday from 8 am-6 pm.

4/23/20: Governor Whitmer and Michigan’s Financial Institutions Agree to Partnership

Governor Whitmer and Michigan’s Financial Institutions Agree to Partnership for Providing Borrowers 90-day Mortgage-Payment Forbearance.

Governor Whitmer and Michigan’s Financial Institutions Agree to Partnership for Providing Borrowers 90-day Mortgage-Payment Forbearance.Governor Gretchen Whitmer and the Michigan Department of Insurance and Financial Services (DIFS) today announce the creation of the MiMortgage Relief Partnership with over 200 of Michigan’s financial institutions to recognize and expand upon the measures that these institutions have been taking to assist customers to ensure that no one experiencing financial hardship due to COVID-19 will lose their home during this public health crisis.

Michigan’s financial institutions have been working hard to assist their customers during these unprecedented times. This partnership will encourage uniformity in available options for consumers in need of assistance, regardless of financial institution.

“No one should have to worry about losing their home during the COVID-19 pandemic,” said Governor Gretchen Whitmer. “With the MiMortgage Relief Partnership, Michigan’s credit unions, banks, and lenders have stepped to the plate to help our residents who are suffering financial losses due to COVID-19 by providing a 90-day grace period for mortgage payments.”

By signing onto Governor Whitmer’s MiMortgage Relief Partnership, participating financial institutions have agreed that they will continue to work with their impacted residential mortgage loan borrowers in at least the following ways:

Providing affected borrowers with a 90-day grace period for all mortgage payments. Financial institutions will offer mortgage-payment forbearance for 90 days, allowing borrowers to reduce or delay their monthly mortgage payment. In addition, the financial institutions will:

  • Provide a streamlined process for requesting forbearance for COVID-19-related reasons, supported with available documentation;
  • Confirm approval of and terms of their forbearance program (which should include reasonable solutions for resuming payments at the end of the forbearance term); and
  • Where appropriate, provide the opportunity for borrowers to extend a forbearance agreement if they continue to experience hardship due to COVID-19.

Providing relief from mortgage-related late fees and charges for 90 days. For affected borrowers who reach an agreement with their financial institution, financial institutions will waive or refund mortgage-related late fees for at least 90 days.

Foregoing new foreclosures for 60 days. Financial institutions will not initiate any foreclosure sales or evictions for 60 days for affected borrowers who reach an agreement with their financial institution.

Refraining from reporting adverse credit scoring information based upon the borrower’s accessing relief. Financial institutions will not report adverse credit scoring information for affected borrowers who reach an agreement with their financial institution. Financial institutions will report other credit information consistent with Consumer Financial Protection Bureau (CFPB) or other federal agency guidance.

Working with borrowers on their specific needs or concerns. If a financial institution varies from these provisions to the benefit of the borrower or to address specific borrower requests, concerns, or individual financial health, this would be deemed in the spirit of the partnership. In particular, issues surrounding escrow and tax and insurance payments may require more individualized assistance.

As of April 22, 2020, over 200 financial institutions have signed onto the partnership. Participating financial institutions are listed on the MiMortgage Relief Partnership Financial Institutions page.

“The strength of our financial system will be an important factor in how Michigan recovers economically from COVID-19,” DIFS Director Anita G. Fox said. “Through the MiMortgage Relief Partnership, financial institutions will continue to help customers find the solutions that best fit their needs, and to focus relief efforts on those most impacted by the crisis. Michigan residents who can meet their financial obligations can continue to do so, while those who need assistance will be able to work with their financial institutions to access relief.”

Michigan borrowers experiencing a financial hardship due to COVID-19 are encouraged to reach out directly to their financial institution to learn the details of the relief options available to them, and to work out with the institution an agreement applicable to their loan. Borrowers are encouraged to reach out before their loan becomes delinquent. DIFS never advises borrowers to stop paying their loan payments.

Please note that financial institutions and their servicers are experiencing high volumes of inquiries and may recommend using online services when available for the quickest service. Loans held by a financial institution may be serviced by another company.

Lenders who service federally-backed mortgages are subject to federal rules. Borrowers with these loans may wish to visit the CFPB guide to coronavirus mortgage relief options.

For more information on COVID-19 related mortgage relief, see: MiMortgage Relief or call DIFS toll-free at 877-999-6442.

4/20/20: CARES ACT Provides Relief to Individuals and Businesses

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here.

Unemployment provisions

The legislation provides for:

  • An additional $600 weekly benefit to those collecting unemployment benefits, through July 31, 2020
  • An additional 13 weeks of federally funded unemployment benefits, through the end of 2020, for individuals who exhaust their state unemployment benefits
  • Targeted federal reimbursement of state unemployment compensation designed to eliminate state one-week delays in providing benefits
  • Unemployment benefits through 2020 for many who would not otherwise qualify, including independent contractors and part-time workers

Recovery rebates

Most individuals will receive a direct payment from the federal government. Technically a 2020 refundable income tax credit, the rebate amount will be calculated based on 2019 tax returns filed (2018 returns in cases where a 2019 return hasn’t been filed) and sent automatically via check or direct deposit to qualifying individuals. To qualify for a payment, individuals generally must have a Social Security number and must not qualify as the dependent of another individual.

The amount of the recovery rebate is $1,200 ($2,400 if married filing a joint return) plus $500 for each qualifying child under age 17. Recovery rebates are phased out for those with adjusted gross income (AGI) exceeding $75,000 ($150,000 if married filing a joint return, $112,500 for those filing as head of household). For those with AGI exceeding the threshold amount, the allowable rebate is reduced by $5 for every $100 in income over the threshold.

While details are still being worked out, the IRS will be coordinating with other federal agencies to facilitate payment determination and distribution. For example, eligible individuals collecting Social Security benefits may not need to file a tax return in order to receive a payment.

Retirement plan provisions

  • Required minimum distributions (RMDs) from employer-sponsored retirement plans and IRAs will not apply for the 2020 calendar year; this includes any 2019 RMDs that would otherwise have to be taken in 2020
  • The 10% early-distribution penalty tax that would normally apply to distributions made prior to age 59½ (unless an exception applies) is waived for retirement plan distributions of up to $100,000 relating to the coronavirus; special re-contribution rules and income inclusion rules for tax purposes apply as well
  • Limits on loans from employer-sponsored retirement plans are expanded, with repayment delays provided

Student loans

  • The legislation provides a six-month automatic payment suspension for any student loan held by the federal government; this six-month period ends on September 30, 2020
  • Under already existing rules, up to $5,250 in payments made by an employer under an education assistance program could be excluded from an employee’s taxable income; this exclusion is expanded to include eligible student loan repayments an employer makes on an employee’s behalf before January 1, 2021

Business relief

  • An employee retention tax credit is now available to employers significantly impacted by the crisis and is applied to offset Social Security payroll taxes; the credit is equal to 50% of qualified wages up to a certain maximum
  • Employers may defer paying the employer portion of Social Security payroll taxes through the end of 2020 and may pay the deferred taxes over a two-year period of time; self-employed individuals are able to do the same
  • Net operating loss rules expanded
  • Deductibility of business interest expanded
  • Provisions relating to specified Small Business Administration (SBA) loans increase the federal government guarantee to 100% and allow small businesses to borrow up to $10 million and defer payments for six months to one year; self-employed individuals, independent contractors, and sole proprietors may qualify for loans

Prior legislative relief provisions

Signed into law roughly two weeks prior to the CARES Act, the Families First Coronavirus Response Act (FFCRA) also included relief provisions worth noting:

  • Requirement that health plans cover COVID-19 testing at no cost to the patient
  • Requirement that employers with fewer than 500 employees generally must provide paid sick leave to employees affected by COVID-19 who meet certain criteria, and paid emergency family and medical leave in other circumstances
  • Payroll tax credits allowed for required sick leave as well as family and medical leave paid

There is likely to be a steady stream of guidance forthcoming with details relating to many of these provisions, so stay tuned for more information. We’re here to help and to answer any questions you may have.

4/20/20: Coronavirus: 9 precautions you should take for your personal finances

Checkout the below article by Jackson Bolstad, Community Manager at Bolstad outlines 9 precautions you should take to protect your personal finances.

So, you’ve stocked your home with food and other daily essentials in preparation for being stuck at home. You even managed to fight off the hoard of desperate shoppers at your local grocery store to secure the last few rolls of toilet paper. At this point, you’re prepared to weather whatever coronavirus (COVID-19) throws your way. But is your wallet?

With more and more restrictions going into place every day, it’s well past time you took a few precautions to protect your personal finances. Here are nine things to do over the next few days to prepare yourself and your wallet for any disruption to your paycheck, financial situation, or daily routine:

  • Get familiar with your credit union’s e-Services: In the event you can’t make it to your local credit union branch, you can stay on top of your finances by signing up for online banking and/or downloading your credit union’s mobile app. Conveniently deposit checks through the mobile app instead of in person at your local branch.
  • Automate payments or set up bill pay: If you haven’t already, consider automating the monthly payments for your utilities, internet, insurance, and any other regular bills. You should also set up online bill pay through your credit union if they offer the service.
  • Reduce your discretionary spending: Whether you have an emergency fund or not, you should start saving as much as you can. That means cutting back on non-essentials, including streaming services, shopping, and eating out. Even if you’re only saving $20; that’s 20 more dollars you’ll have if you end up not being paid for a few weeks.
  • Avoid making large purchases with your credit card: You definitely don’t want to be on the hook for a large purchase when you’re not getting paid. Instead, save those funds for any pressing needs that come up while stuck at home.
  • Aggressively pay down debt: If you have the financial ability, pay off your credit card, make multiple payments on your car loan, or even make an additional payment on your mortgage. In the event you’re without a paycheck for longer than you expect, this may bring you at least a modicum of relief. It will also help you avoid interest payments and late fees, which could impact your credit score.
  • Put that tax refund into your emergency fund: Expecting that tax refund in the mail? Instead of spending it, consider putting it into an emergency fund that you can use as needed during this turbulent time. You can always move or invest it later.
  • Subscribe to your credit union’s emails: As you read this, your credit union is likely developing a plan to assist and serve you in the event things take a turn for the worse. This could come in the form of extended contact center hours, skip-a-pay loan promotions, and more. Stay up-to-date on all your options by signing up to receive credit union emails, monitoring their website, and following them on social media.
  • Develop a plan for work: If your child’s school and/or daycare decides to close down, do you have an emergency plan in place? Whether it’s trading days off with your partner or enlisting the help of grandma, now’s the time to work out a plan that won’t force you to take valuable time off to be at home with the kids.
  • Scams: Be on high-alert for coronavirus-related scams! In particular, the Federal Trade Commission is warning consumers to be wary of phony emails and calls from coronavirus-related companies and charities. In addition to never giving any money to these fake organizations, be sure to never discuss your personal information, passwords, or PINs.

Taking a few precautions now can help you better prepare your finances for any implications from the coronavirus later. If you need additional assistance, don’t be afraid to reach out to your credit union’s personal finance experts for advice, resources, and more.

Find more information on

4/16/20: IRS Non-Filers EIP Tool

The U.S. Treasury Department and the Internal Revenue Service (IRS) have launched a new web tool allowing quick registration for Economic Impact Payments (EIP) for those who don’t normally file a tax return.  The first wave of electronic EIP payments began last Friday, to appear in eligible accounts this week.  Because the capacity to generate physical checks and mail them is limited, the roll out will be in batches for weeks or even months.

Check out the new IRS Non-Filers EIP Tool.

A second online tool is expected to launch within the next few days or next week that will enable consumers to check the status of their payment, including the date their payment is scheduled to be deposited in their account or mailed to them. 

4/10/20: PPP Loan Status Update

Lapse in Appropriations Notice:

SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.

EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. Learn more about the Paycheck Protection Program.

If you feel that new appropriations are necessary, we encourage you to contact your congress person.

3/31/20: COVID-19 Stimulus Scams

With all the news about stimulus checks, fraudsters are creating websites and ads to fool consumers into providing private information in exchange for additional stimulus payments or grants.

  • Government agencies do not communicate through social media outlets, such as Facebook.
  • A government agency will never request an advanced processing fee to receive a grant.
  • Beware of fake government agencies promoted by fraudsters. The only official list of all U.S. federal grant-making agencies can be fount at
  • Practice safe-surfing when you’re online. Know where you are and how you got there. There are growing numbers of fake websites made to look legitimate, but in fact fool us into providing our usernames, passwords and other private information.

3/24/20: Member Relief Programs

Credit Unions were built on the foundation of people helping people, and that is what TBA Credit Union (TBACU) continues to do during this uncertain time. Rest assured, TBACU member’s money is safe and available.

Effective Tuesday, March 24, through April 30, the TBA Credit Union Board of Directors approved a Relief program for members which includes the following:

  • Waiving all Overdraft fees including: NSF fees, Non-return fees, Overdraft transfer fees, and Negative balance fees
  • Income Supplement Loans
    o As low as zero percent and up to 1.99% for qualified borrowers.
  • Skip-Payment Program skip up to 2 months payments for all eligible consumer and business loans.
  • Access to Certificate of Deposit funds penalty free
    o If you need to withdraw funds due to the COVID-19 pandemic to care for a dependent or income loss.

In doing so we hope to ease a bit of the financial stress you may be feeling right now.Login to It’sMe247 to apply for Skip Payment and Income Supplement Loans. 

Download our mobile app to access to your accounts 24/7. Check balances, transfer funds, pay bills, deposit checks, skip-a-loan-payment, apply for a variety of loans, and more.

TBACU’s Service Center is available from 8 am-6 pm by calling or texting 231-946-7090.

TBACU’s lobbies remain closed and while loans can be originated electronically, they will set up appointments for urgent/essential needs following their internal COVID-19 mitigation protocol.

Utilize TBACU’s ATM’s for quick access to cash. Drive thru service is available at the South Airport and Front Street branches Monday through Friday, from 9 am-5 pm. Member Service Representatives are available to assist with deposits, withdrawals, and check cashing.

3/23/20: Resources for Business Members

During these unprecedented times of uncertainty, it is important for you to know that TBA Credit Union (TBACU) is here to provide assistance and resources to the members of our business community. Below are four resources our business members can utilize.

SBA Disaster Relief Loans: The U. S. Small Business Administration (SBA) provides low-interest, long-term disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace uninsured/under-insured disaster damaged property. SBA disaster loans offer an affordable way for individuals and businesses to recover from declared disasters. 

Learn more

Traverse Connect: Responding to the COVID-19 epidemic is difficult for everyone. Responding to the epidemic when you own or manage a business feels almost impossible. Traverse Connect is here to support your business during this unprecedented time. 

Learn more

Traverse SCORE: Local SCORE Traverse City mentors are current and retired business men and women who volunteer their time to offer support, guidance, and advice to small businesses in northern Michigan. SCORE mentors will meet with clients by video or phone conferencing to assist with your business needs.

Learn more

CDC’s Guidance for Businesses and Employers to Plan and Respond to COVID-19: This resource offers up to date details on how to plan, prepare and respond to the Coronavirus. This interim guidance may help prevent workplace exposures to COVID-19, in non-healthcare settings.+

Learn more

3/20/20: Protect Yourself from Fraudsters

During this time Fraudsters are taking advantage of the COVID-19 scare. Stay vigilant to protect your family and information. Below are a few tips and tricks to stay safe.

  • Get your information from known links and sources. Fraudsters are creating malicious websites and targeting consumers. Use the official sites listed below, for health-related questions. (this would reference the official health-related sites already listed)
  • Be aware of an increase in email, text and telephone scams about COVID-19.
  • Avoid selecting links and attachments in your email or giving information to telephone solicitors.
  • Navigate directly to the known website. Use a known telephone number or one from the Yellowpages.
  • If you’ve fallen victim to a scam, immediately call your financial institution.

Learn more about Coronavirus (COVID-19) scams to watch out for.

Have questions or concerns? Contact our Service Center at 231.946.7090.

3/17/20: Lobbies Temporarily Closed

Please be assured, your money is safe and available for you, we are just temporarily shifting how we serve you.

Effective March 17 at 12 pm, we will remain open to serve you by drive-thru only during normal business hours. Please note that our lobbies will be accessible by appointment only. As always, you can access your account by ATM, through online banking, and the TBACU Mobile App. We are also available by phone and text at 231-946-7090 from 8 am-6 pm, Monday-Friday.

Thank you for your patience as we respond to the latest updates regarding COVID-19 guidelines with a mindset of how we can provide the best solutions during challenging times. As your world changes, we will be here to provide the financial assistance you need.

3/16/20: Alternative Banking Options


Credit Unions were built on the foundation of people helping people, and that is what we intend to do during this uncertain time. School closings, business closings, and social distancing measures have many feeling uneasy in regard to their finances.

We are currently offering a Skip-Payment Program and waiving the fee for all members, including our business members. Please contact our Service Center team by calling or texting 231.946.7090 to learn more.

In the event that we do close our lobbies, the following services will remain available.

Apply for a Loan Online
Apply for a loan online or our download our mobile app and apply for a variety of loans.

Need to Close on a Loan or have Questions on a Current Loan
While all loans can be closed electronically via email, we will set up appointments if necessary. We do have a policy in place to assist employee groups that become financially burdened due to unusual circumstances with the potential of loan advances or modifications.

Card Control
Receive instant transaction alerts, temporarily turn off your debit or credit card if misplaces, or report lost/stolen cards.

Available at our South Airport and Front Street branches, Member Service Representatives are available to assist with deposits, withdrawals, and check cashing.

Mobile & Online Banking
Total access to your accounts 24/7. Check balances, transfer funds, pay bills, etc.

Remote Deposit Capture
Deposit checks right from your mobile device through the TBA Credit Union mobile app.

Service Center
You can reach our team by calling or texting 231.946.7090 Monday-Friday, 8 am to 6 pm.

As more details are released, we will be sure to update all of our members through email, here on our website, and social media.

3/12/20: Our Top Priority

TBA Credit Union’s top priority is the health and wellness of our members and employees. As information about the coronavirus (COVID-19) is shared throughout the community, TBACU is actively monitoring the situation and is taking steps to help protect our members and employees.

What TBACU is doing:
Our team is closely monitoring the situation and has an agile response plan in place. In addition, review and execution of existing preparedness and business continuity plans have occurred.

  • We are closely monitoring the information provided by the Center for Disease Control and Prevention (CDC) and local authorities. Employees have been encouraged to familiarize themselves with the information and follow CDC directives, when applicable.
  • We have distributed additional hand sanitizer throughout the organization for use by members and employees and have put additional cleaning rotations in place.
  • We have encouraged our employees to continue to monitor their health and have created direct communication channels for sharing any issues or potential exposure concerns.

What you can do:

  • Wash your hands often with soap and water for at least 20 seconds.
  • Avoid touching your eyes, nose, and mouth with unwashed hands.
  • Cover your nose and mouth if you have to cough or sneeze.
  • Stay home if you are sick and avoid close contact with others.
  • Review the CDC’s resources to stay informed.


TBACU is committed to serving and supporting our members. We will continue to diligently monitor the situation to adapt and update our members as needed.

Concerned about your investments? Here is a word from our CFS* Financial Advisor, Andrew Maniaci.

In the meantime, we encourage members to use our website and/or mobile app to apply for a loan, access account information, deposit checks through Remote Deposit Capture (mobile app only), manage your cards, and more. Additionally, members can call or text our local Service Center at 231.946.7090 Monday-Friday, 8am to 6pm.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. TBA Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.