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Latest News: Kansas and Missouri Credit Unions

Credit Unions Step Up to Help Members During Government Shutdown

Friday, October 04, 2013   (0 Comments)
Posted by: Susan Dyer
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The partial government shutdown has been the main news story for several days. Consumers and businesses alike are starting to feel the trickle down affect of employee furloughs, closed federal agencies and reduced staff.

The Credit Union National Association is reporting that credit unions across the nation are stepping up to help those in need.  Dozens of credit unions including some in Kansas like Meritrust Credit Union, TECU Credit Union and Catholic Family Federal Credit Union, have indicated they are offering assistance to federal employees.  [Media coverage: KWCH-TV: Kansans Prepare for Government Shutdown]

Some of the special programs in effect include:

  • emergency loans
  • payroll replacement/advance assistance (temporary loans that replace the furloughed employee's salary)
  • skip-a-payment programs; penalty-free share certificate withdrawals; and financial counseling or workout loans.

Offering individualized assistance is just one of the benefits of working with a local community credit unions. And to some credit unions, these programs are something they offer their members all the time...whether it's a federal shutdown or a severe weather emergency, credit unions illustrate the "people helping people" philosophy.