CUs come to financial rescue as government shutdown continues
Assistance offered from Maine to Hawaii for those affected.
News of credit unions assisting members continues to pour in as the government shutdown heads into its fourth week.
The Hawaii Credit Union League reports that several member credit unions have rolled out assistance programs.
The Credit Union Association of the Dakotas also reports that its member credit unions are providing assistance to affected government employees.
The League of Southeastern Credit Unions is maintaining a web page of member credit unions that are offering assistance during the shutdown.
Teachers Credit Union in South Bend, Ind., has announced a package of relief measures that includes a 90-day member assistance loan, loan payment deferments, delinquent loan solutions, and waiver of early certificate withdrawal penalties.
Avadian Credit Union in Birmingham, Ala., offers a 0% loan for 60 days, plus an additional 30-day loan upon request if the shutdown continues.
Town and Country Credit Union in Scarborough, Maine, offers several types of loans, with terms up to 12 months, to assist members. The credit union expects several dozen members to seek assistance once they miss their first paychecks.
AmeriCU Credit Union in Rome, N.Y., offers interest-free furlough loans, fee refunds, and penalty-free certificate withdrawals.