WASHINGTON–With approximately 700,000 federal workers out of work due to the government shutdown, and another several-hundred thousand working without pay, America’s Credit Unions has added a new feature to its Government Shutdown Assistance webpage: a new state-by-state list of credit unions offering shutdown assistance.
According to the trade association, policymakers, credit union members and others can see what services are available from credit unions in specific states, access league resource pages, and it also contains a link to NCUA’s credit union locator tool as well.
Among the resources listed by America’s Credit Unions:
Illinois
The Illinois Credit Union League maintains a resource page for Illinois credit unions and members, including information on partnerships between credit unions and the Illinois State Treasurer’s Office through the Federal Workers Emergency Loan Program.
Cornerstone League (Texas, Oklahoma, Arkansas, Missouri & Kansas)
The Cornerstone League reported it responded to a request from Rep. August Pfluger (R-TX),providing him with information on what credit unions in Texas’s 11th congressional district are providing. Heritage USA Federal Credit Union Midland, Texas is offering skip-a-payment, loan modifications and extensions, waived and reduced fees, and personalized member support.
In addition, Brazos Star Credit Union in College Station, Texas, which was founded by federal employees in the U.S. Department of Agriculture, Federal Bureau of Prisons, Social Security Administration, and U.S. Postal Service, is offering a Government Shutdown Bridge Loan for federal employees affected by the latest government shutdown, which can replace up to a month’s salary, with the first payment deferred for 45 days.
Brazos Star is also offering fee-free loan extensions, temporary increases in lines of credit, and personalized loans to fit members’ needs.
Washington
Peninsula Credit Union in Washington State contacted members early in the shutdown and deployed a comprehensive suite of emergency financial products, America’s Credit Unions said.
Alabama
Birmingham, Ala.-based AmFirst introduced a “Here When You Need Us Most: Special Relief Loan” to replace a member’s monthly salary with terms up to 12 months. The loan carries a 1.75% APR on amounts to $5,000 or their net monthly pay.
The CU Daily has also extensively reported credit union relief efforts during the shutdown.
