Navigating through COVID-19
Last update: March 25, 2022
At Gulf & Fraser, as a local community-based credit union, our role and responsibility during the COVID-19 pandemic is to support the well-being of our employees, members and our communities. This is instilled in our values and rooted in our credit union principles.
Gulf & Fraser has updated our safety protocols to align with guidance set out by the Province of British Columbia. We will continue to follow the guidance set out by the provincial health officer as we work together to protect one another through to the end of this pandemic.
How we're helping prevent the spread of COVID-19:
- Ongoing and regular monitoring
- Promoting healthy habits
- Providing enhanced safety protocols at branches
- Providing online and telephone banking services
Safety protocols when visiting a branch
In compliance with provincial health orders, our branches are operating with enhanced safety protocols. This means that you may be asked to maintain physical distance of 2 metres from others when in a branch. While masks are no longer required, our employees have the choice of wearing a mask. We will respect our members' choice to wear or not wear a mask while they are visiting our branches.
- Monday to Friday: 9:30am to 5pm
- Saturdays: 9:30am to 4pm
There is no need to book an appointment to come to a branch. However, if you have something you need that you think will take longer than a standard transaction, you have the option to call our Member Hub to book an appointment: 604-419-8888.
Member Hub hours
- Monday to Friday: 7am to 7pm
- Saturdays: 8am to 4pm
Government support for individuals
See the following websites for information on accessing government support:
- Canada Emergency Response Benefit (CERB) – the CERB program has ended. Please see this page to determine whether you qualify for Employment Insurance or other recovery benefits.
- Canada Recovery Caregiving Benefit (CRCB) – income support for employed and self-employed people who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care. Receive $450 for each 1-week period that you apply for.
- Canada Recovery Sickness Benefit (CRSB) – income support for employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19. Receive $450 for each 1-week period that you apply for.
- Employment Insurance Benefits
- Employment Insurance Sickness Benefits – Employment Insurance sickness benefits can provide you with up to 15 weeks of financial assistance if you cannot work for medical reasons. You need 120 insured hours to qualify for the benefits.
- ICBC – option to defer payment for up to 90 days with no penalty.
- Kids Help Phone 1-800-668-6868
- New Horizons for Seniors Program – apply for grants and funding for projects that make a difference in the lives of seniors
Government support for businesses
Canada Emergency Business Account (CEBA)
The deadline for new and expansion CEBA program loans was June 30, 2021. Please visit ceba-cuec.ca for further details.
In April 2020, the Government of Canada launched the Canada Emergency Business Account (CEBA), intended to assist small business and not-for-profits experiencing economic impact resulting from the COVID-19 pandemic. Qualifying business could access up to $60,000 in interest-free loans to cover Non-Deferrable Expenses.
CEBA loans are interest free until December 31, 2022 and charge 5% per annum interest starting on January 1, 2023. If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by December 31, 2022, the remaining principal amount will be forgiven, provided no default under the loan has occurred.
Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2022 will result in a single tranche of loan forgiveness up to $20,000:
- 25% on the first $40,000; plus
- 50% on amounts above $40,000 and up to $60,000.
If $60,000 is borrowed, no forgiveness is available unless $40,000 is repaid. If $40,000 or less is borrowed and 75% of the borrowed amount is paid, the remaining 25% (up to $10,000) is available for forgiveness. For additional information on the CEBA program or CEBA loan forgiveness, please visit ceba-cuec.ca.
Other support initiatives for businesses
- Canada Emergency Rent Subsidy – This program provided up to 90% rent support for qualifying businesses, non-profit organizations or charities and ended in late 2021. It was replaced by two new programs, each offering rent and wage support: the Tourism and Hospitality Recovery Program and the Hardest-Hit Business Recovery Program.
- Canada Emergency Wage Subsidy – This program was also replaced by the above new programs. Click here for more information.
- Co-lending program for small and medium-sized businesses
- Work-Sharing Program - COVID-19 – helps employers and employees avoid layoffs when there is a temporary decrease in business activity beyond the control of the employer. Provides Employment Insurance benefits to eligible employees.
- Loan guarantee for small and medium-sized businesses
- Temporary wage subsidy for employers – No need to apply. Employers are to reduce their payroll remittances of income tax by the amount of the subsidy.
BC Government support for small businesses, non-profits, contract workers and self-employed individuals
The provincial government has outlined a number of services to assist small businesses, non-profits, contract workers and self-employed individuals. Please see their website for more information: covid.smallbusinessbc.ca.