HONOLULU– As the federal government shutdown continues and the first missed paycheck approaches, credit unions continue to roll out special offers of assistance.
In addition to the offers the CU Daily has reported here, here, here and here, other newly announced assistance includes:
• Hawaii State Federal Credit Union is now offering an Emergency Financial Assistance Program, which includes a range of relief options designed to provide immediate financial flexibility for members facing furloughs or reduced pay, including loan payment deferrals, low-rate personal loans and waived early withdrawal fees for term shares.
• In Fresno, Calif., Educational Employees Credit Union (EECU) announced a special financial assistance package that includes the ability to skip a loan payment, in addition to an emergency no-interest loan of up to $10,000 for up to 30 days, based on verified federal income. EECU will also waive share and IRA certificate early withdrawal penalties for affected members to allow immediate access to their savings without added costs.
• Veridian Credit Union in Waterloo, Iowa, is offering interest-free Government Advance Loans or free delayed-payment services to members whose income is impacted by the current government shutdown. Veridian members with a history of regular federal government income are eligible to accept one of the two offerings. Government Advance Loans offer a 30-day, single-payment term with no interest. The loan amount is based on the most recent federal government direct deposit into the member’s Veridian account. Veridian is also waiving the fee and certain restrictions of its Delay-A-Pay service for members impacted by the shutdown. Delay-A-Pay allows members to postpone a payment on select loans. Eligibility for Government Advance Loans and expanded Delay-A-Pay services are limited to members with a history of regular federal government income.
