Government shutdown: banks help federal workers on a case-by-case basis - Vox.com
Vox.com - Fri 11 Jan 09:21 GMT

Government shutdown: banks help federal workers on a case-by-case basis - Vox.com

Banks, credit card companies, and credit unions say they’re willing to help out workers during the shutdown — but not automatically.

  Banks and credit card companies say they’re willing to help out — but not automatically Most big lenders say they are willing to do something to help employees affected by the shutdown, but the situation is still far from ideal: Workers already stressed by the scenario now have to take time out to make calls and try to negotiate a deal for themselves, and they’re not all getting the same treatment.

  Credit unions are making a lot of offers A number of credit unions are also making offers for workers, including short-term, low- or no-interest loans, and payment deferrals.

  According to CNBC, Launch Federal Credit is offering a 0 percent interest rate for loans of as much as $3,000 to federal employees, and Navy Federal Credit Union is offering them for up to $6,000.

  The US Employees Credit Union is providing zero-interest loans for 60 days to its members, and Justice Federal Credit Union is offering low interest rate loans to Justice and Homeland Security department employees.

  Consumers seem to be taking up some offers Matt Duthler, the marketing director at Northland Area Federal Credit Union in Michigan, told me “quite a few” people have taken advantage of its offer of a $1,500 low-interest loan it put out in light of the shutdown, especially as the shutdown has extended.