|Resource/Benefit||Description||How & When to Apply|
|Canadian Emergency Response Benefit (CERB)||If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks. https://www.canada.ca/en/services/benefits/ei/cerb-application.html||Apply starting April 6, 2020|
|Mortgage Deferrals||Customers should understand that this is not mortgage forgiveness. Mortgage deferral means that payments are skipped for a defined period of time, during which interest which would otherwise be part of the deferred payments is added to the outstanding balance of the mortgage. The added interest is incorporated into the monthly payment, either when payments resume at the end of the deferral period or upon renewal at the end of the mortgage’s term. Visit the CBA website for more information on mortgage deferrals.||Consult your bank’s dedicated COVID-19 support page for application details:|
|The Financial Consumer Agency of Canada (FCAC)||You may be worried about the impact of the current COVID-19 pandemic on your finances. Whatever the source, financial emergencies can be stressful and cause considerable hardships for you and your family. The FCAC has educational resources on budgeting, credit, savings, debt management and more. Interactive tools and calculators can also help you maintain good financial health during these challenging times. Learn more about FCAC’s online resources: https://www.canada.ca/en/financial-consumer-agency.html||N/A|
|BC Hydro COVID-19 Relief Fund||If you or your spouse/partner have lost employment or have become unable to work due to COVID-19, you may be eligible for three months of bill credit based on your average consumption. https://app.bchydro.com/accounts-billing/bill-payment/ways-to-pay/covid-19-relief-fund/residential.html||There is no rush to apply. Eligible customers can apply any time until June 30, 2020 to receive the credit. https://app.bchydro.com/ccf-application|
|BC Income Assistance Program||My Self Serve (MySS) provides online access to income and disability assistance for residents of British Columbia. https://myselfserve.gov.bc.ca/||If you are not currently in receipt of income or disability assistance, My Self Serve will guide you through the Application for Assistance.|
A note about Mortgage Deferrals: It is important to note that all mortgage deferral programs are offered at the discretion of the lender and each lender has its own policies with regard to this. Typically true financial hardship must be demonstrated, and it is important to keep in mind that a deferred mortgage payment is for the mortgage amount only (not property tax installments and insurance premiums that may come from your bank account out at the same time). Visit your lender’s website for specific information and applications for possible mortgage deferrals.
COVID 19 Mortgage Information from Rate Hub: https://www.ratehub.ca/blog/covid-19-and-your-mortgage/