WASHINGTON--Credit union members impacted by the federal government shutdown are turning to their credit union to get them through a difficult time. America’s Credit Unions President/CEO Jim Nussle wrote to Congress Monday, sharing that message along with specific examples of how credit unions are stepping up.
Jim Nussle
Nussle noted that these services include:
- Financial counseling to develop a plan that fits their needs, from budgeting and debt consolidation to adjusting loans and accessing emergency funds
- Personalized loan products that include reduced or no interest payroll advances, 0% interest loans, deferred payments, and other emergency options
- Loan modifications for existing loans to avoid incurring additional fees, whether it’s skip-a-payment, reduced interest on loans, loan modifications, and more
- Helping new members in their specific fields of membership, and potential members are encouraged to reach out to credit unions they may be eligible to join to access services and financial guidance.
“Credit unions can make a real difference to your constituents and communities affected by the shutdown, and we can provide real stories of impact that are already underway,” Nussle wrote, linking to an America’s Credit Unions blog post highlighting Members 1st Credit Union’s response.
The Senate attempted another vote Monday evening to advance the House-passed continuing resolution to fund the government through Nov. 21, but it failed.
Around the country, credit unions continue to work with members affected by the shutdown.
America’s Credit Unions’ Government Shutdown Assistance webpage contains resources and an online survey for credit unions providing government shutdown-related outreach and services.