Access Credit Union, among other financial institutions, is allowing mortgage payment deferrals for anyone experiencing financial hardships.

Access President and CEO Larry Davey encourages members to call and learn more about their options.

"We ask members to be proactive if their situation is changing, we want to make sure we're there to support all of our members through any hardships they may encounter," Davey says, adding they want to find solutions that best suit each individual member.

Some of the funding announced by the provincial and federal government should also help organizations and individuals through this unprecedented time, he says.

In the last few weeks, Access has also seen its prime rate fall one percent along with the Bank of Canada, "which does help make it easier for borrowers relative to interest rates," Davey explains.

"Rates are at a very low point right now, and it might cause people to think about locking in those rates for the long term," he adds.

Davey also encourages members to phone or use their online chat feature to avoid coming into their local branches as they practice social distancing.