18 March 2020

SPARK Member Relief and Banking Support Program

Publish date: 19 March 2020

Your team at SPARK is taking significant measures to take care of and safeguard our employees, members, and the communities that we serve during this unprecedented time.

In light of the recent economic and financial slowdown resulting from COVID019, many Albertans may experience financial difficulty.  As a response, SPARK officially launched its Member Relief and Banking Support Program yesterday, to provide temporary loan and mortgage payment relief to members who are facing financial challenges as a result of this global crisis.

We understand that there are many different ways our members may be affected financially by COVID-19. This may include financial strain ensuing from or a decrease in hours or the loss of a paycheck, or significant reductions in revenue for small business owners as demand for services and foot traffic diminish. SPARK is committed to working with our members, on a case-by-case basis to ease your financial challenges.

We are offering payment deferrals on loans, mortgages, and lines of credit at an individualized level because we understand that each situation is rarely cut and dry, and that the only way for us to make it through is by supporting one another. Currently we are able to offer our members payment deferrals for up to three months.  If you are feeling financially vulnerable, we encourage you to seek relief. You can learn more about the program here.

Please be patient as we may take longer than usual to respond while we manage the high volume of inquiries. Rest assured, we will get back to you as soon as we can. We ask for your continued patience and cooperation as we navigate this rough patch. We’re all in this together.