WASHINGTON--With federal workers facing what will now be the longest government shutdown in history, credit union outreach to help is more important than ever, noted ACU.
Tinker Federal Credit Union is teaming up with the local food bank and other community programs and resources to help people facing significant financial and food insecurity in Oklahoma City. The credit union will present free financial education workshops open to the community that tackle financial tools and resources to help navigate the government shutdown on Wednesday. It’s also offering a new hardship relief program, which includes 0% interest loans for qualifying members, free refunds, and more.
"This is just one example showing how credit unions are stepping up to help," ACU stated.
As reflected in America’s Credit Unions’ government shutdown assistance survey, credit unions nationwide have jumped into action amid this ongoing crisis:
- 90% offer deferred payments on existing loans
- 78% launched new loan programs
- 88% modified current loans
- 68% are waiving fees or penalties to reduce member strain
- 66% are offering other services including financial counseling, budget management support, or other personalized services
Credit unions’ efforts are reflected in America’s Credit Unions’ Government Shutdown Assistance page, which offers various resources, including a regularly updated state-by-state listing of credit unions offering help. Participate in the survey to be included.
ACU added that even more examples of credit unions’ efforts amid the shutdown are featured in several blogs: