For reasons of the health contingency, the CES University Employees Fund (UnionCES) decided to take economic relief measures so that its associates can benefit from economic benefits and not see their finances affected.
The relief measures consist of freezing the deductions of credits and fairs, in this measure all employees who currently have loans and discounts of fairs with the UnionCES employee fund, the deductions were suspended for 6 fortnights, leaving the credit totally frozen and postponing these installments to resume them in the fortnight of July 30, 2020. In addition, the credit insurance assumes it and pays the Fund during the freezing period.
“UnionCES was created to improve the quality of life of its associates, that is why we are present in this time of crisis, where for three months we are not going to receive the money by deduction of credits and fairs and even so we are making our effort to continue providing all our services normally, ” said Marta Patricia Giraldo Granda, an analyst at UnionCES.
Another measure is the new credit modalities for the current situation of the country, in it is the Emergency Credit, where associates may have a credit for up to 2 current legal minimum wages, with a minimum amount of $ 100,000, with a maximum term 1 year and a three-month grace period with an interest rate of 0.5% month overdue. It should be noted that this loan is subject to validation of its borrowing capacity.
There are also the Market Bonds with companies affiliated to the Employee Fund, which are not subject to validation of indebtedness capacity and can be from $ 100,000 to $ 500,000, a rate of 0.1% overdue month and four installments to cancel it.
Likewise, the portfolio purchase credit, which was expanded to take into account, in addition to the obligations in arrears, the obligations to date; with a rate of 0.9% month in arrears, a maximum term of 6 years and a maximum amount of 18 legal monthly minimum wages in force.
Finally, there are the flexibility measures in the savings that employees have, such as: Christmas, vacation, educational and housing savings, which can be canceled, suspended or modified according to the needs of each of the associates.