ALEXANDRIA, Va.–With approximately 1,300 State Department employees fired by the Trump administration as part of its ongoing downsizing, the credit union the department said it is prepared to help.
The $2.9-billion State Department FCU told the CU Daily it has responded to the announcement of the job reductions by already having in place solutions geared towards helping its members during times of financial uncertainty.
The credit union said it sent an email to members on July 14 who may have been affected, detailing the support available to them.
Financial Assistance Programs
SDFCU said its financial assistance programs include:
- Complimentary financial counseling services
- Loan payment deferment and late fee refunds (case-by-case basis)
- Emergency Platinum Rewards credit card with 0.00% APR for 60 days. After the initial 60-day period the rate will revert to the current rate. Rates are based on meeting qualifying criteria and are subject to change, it noted.
- Cash advance fee refunds on credit cards
- Penalty-free early withdrawal of share certificates
Reaching Out
State Department FCU told the CU Daily it has proactively reached out to members not just via email, but also on social media and through the creation of a webpage here.
It said it has also begun to hear from some members who are seeking guidance and support as they “navigate these uncertain times.” SDFCU said it is grateful to be a trusted resource and that it is “committed to walking alongside them through whatever lies ahead.”
‘Unwavering Commitment’
“Our commitment to our members is unwavering,” President & CEO Jim Hayes said in a statement. “In times of uncertainty and change, we will continue to prioritize the well-being of our members and deliver thoughtful solutions that help mitigate financial strain. Supporting our members isn’t just our responsibility, it’s our promise.”
