Credit Unions Provide Assistance for Furloughed Federal Employees

May 21, 2013
Printer-Friendly Format

The National Association of Federal Credit Unions (NAFCU) last week launched a new web page that provides links to credit unions with furlough assistance programs for federal employees affected by the sequester.

NAFCU's Credit Union Furlough Assistance web page is a destination for links to credit unions that have already established furlough assistance programs for members. The page will be updated as new institutions weigh in with information on their own programs. 

"Credit unions are doing great things to help their members," Enoch said. "Hundreds of thousands will be negatively affected by furloughs. We want to make sure they know their credit unions are ready to help," said Quincy Enoch, NAFCU's Associate Director of Legislative Affairs.

To view the Credit Union Furlough Assistance page, to go:
http://www.nafcu.org/furloughassistance/

The credit unions listed on the page have special programs in place to assist federal employees affected by furloughs. While the programs vary, some credit unions are offering no-interest or low-interest short-term bridge loans, penalty-free early withdrawals on savings certificates, and free financial counseling.

If a credit union near you is not on the list, NAFCU "encourages anyone facing a financial challenge to talk to representatives of their credit union."