US EditionRedstone Federal Credit Union, Regions Bank offering financial relief for furloughed workers
Financial institutions offer loan assistance and penalty-free withdrawals to support furloughed federal workers amid shutdown affecting 42,000 Utah employees, officials said.
- On Wednesday, Oct. 1, the United States government officially shut down, prompting California Credit Union to announce relief programs and Navy Federal Credit Union and USAA to offer zero-interest loans.
- With more than 2.1 million federal workers affected, the disruption could leave about 42,000 Utah federal workers without paychecks, varying widely across communities, State Department of Workforce Services data shows.
- Relief features also include penalty-free certificate withdrawals, reduced-rate signature loans, and paycheck-based advances up to two times net paycheck, capped at $3,000.
- Davis County would be hit hardest, with more than 15,000 federal employees making up nearly 11% of the local workforce and concentrating risk around Hill Air Force Base.
- Most observers expect the shutdown to last until the House returns next week, with FEEA offering hardship loans and about $100 grants for affected federal workers.
22 Articles
22 Articles
KTAL NBC 6 News
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Redstone Federal Credit Union, Regions Bank offering financial relief for furloughed workers
HUNTSVILLE, Ala. (WHNT) — Redstone Federal Credit Union and Regions Bank have both announced they are offering financial relief options to members affected by the federal government shutdown. RFCU said these options include low-interest loans and temporary payment deferrals and are meant to ease the burden of federal employees and contractors facing lost or delayed paychecks. Rep. Dale Strong shares response after government shutdown The c…
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