Posted on: April 16, 2020

Financial relief for those impacted by economic consequences of COVID-19.

Canadian Bankers Association

  • Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case‑by‑case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID‑19; childcare disruption due to school closures; or those facing illness from COVID‑19.
  • Visit CBA website or individual bank websites. Individuals can contact their respective bank for more information.

CLICK HERE for more information

 

 

Government of Alberta – COVID-19 supports for Albertans

Utility payment deferral

  • Residential customers can defer electricity and natural gas bill payments for the next 90 days to ensure no one will be cut off, regardless of the service provider.
  • This program is available to Albertans who are experiencing financial hardship as a direct result of COVID-19. For example, those who have lost their employment or had to leave work to take care of an ill family member.
  • Call your utility provider directly to arrange for a 90-day deferral on all payments.

 

Student loans repayment deferral

  • Implementing a six-month, interest free, moratorium on Alberta student loan payments for all Albertans in the process of repaying these loans.
  • Alberta Student Loan repayments will be paused for 6 months, beginning March 30, 2020.
  • Interest will not accrue during this period.
  • This mirrors the approach of the Canada Student Loans Program.
  • Students do not need to apply for the repayment pause.
  • Borrowers may continue making payments during this period if they choose and this will not affect their eligibility to receive the benefit.

 

Banks and credit unions

Canada’s large banks have confirmed that this support will include up to a 6-month payment deferral for mortgages, and the opportunity for relief on other credit products. Contact your personal financial institution

  • ATB financial customers: personal banking customers can apply for a deferral on their ATB loans, lines of credit and mortgages for up to 6 months.
  • Alberta Credit Unions: credit union members will have access to a variety of programs and solutions designed to ease difficulties with loan payments and short-term cash flow. Contact your credit union to work out a plan for your personal situation.

CLICK HERE for more information

 

Emergency Financial Assistance

Financial assistance for unexpected emergencies is available through the Emergency Needs Allowance. You can apply for the Emergency Needs Allowance if:

  • you are a current Income Support client
  • you are an Albertan earning an income, but you do not have enough money to cover this one-time, short-term emergency that will last no longer than a month
  • you meet the Income Support program eligibility requirements
  • If you aren’t receiving Income Support, you can still apply.
  • Contact the 24-hour Income Support Contact Centre for help.

Application required.  Visit website for details.
24-hour Income Support Contact Centre:
Toll free: 1-866-644-5135 TTY
toll free: 1-800-232-7215 (ask to speak to Alberta Supports)
Fax: 780-422-9681
Email: hs.iscc@gov.ab.ca (responses may take 1-3 business days)

CLICK HERE for more information

 

Emergency isolation support

  • The Government of Alberta’s Emergency Isolation Support program is now closed.
  • Eligible working Albertans can receive a one-time emergency isolation support payment of $1,146 if they are required to self-isolate or are the sole caregiver of someone in self-isolation and they have no other source of pay or compensation.
  • This is a temporary program to bridge some Alberta workers through a period of self-isolation until federal benefits are available.
  • You are eligible for the emergency isolation support program if you:
    • have experienced total or significant loss of income and are not receiving compensation from any other source because you:
      • have been diagnosed with COVID-19
      • have been directed by health authorities to self-isolate
      • are the sole caregiver of a dependent who is in self-isolation
  • You are not eligible for this program if you:
    • were not working immediately before you were advised to self-isolate
    • can work from home
    • are not experiencing a significant loss of income as a result of self-isolation
    • are currently collecting other forms of income support or employer benefits while self-isolated, such as workplace sick leave benefits or federal employment insurance (EI) benefits
    • are staying home to care for a dependent who is home for a reason other than self-isolation
    • reside outside of Alberta

The Government of Alberta’s Emergency Isolation Support program is now closed.

  • Visit website to apply online.
  • If you need help completing your application, call Alberta Connects at 310-4455,
  • open 7 days a week from 8 am to 8 pm.
  • People are asked to please be patient as call volumes may be high.
  • Anyone who experiences technical issues with the website is asked to call 1‐844‐643‐2789.

CLICK HERE for more information

 

 

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