A message from our CEO
Welcome back to work. I know that all of you are relieved that the government shutdown is over. I’m writing to give you an update on the credit union’s government shutdown loan program and other efforts to assist you.
Many of you will be getting paid this week and yet you are still faced with choices regarding your paychecks. To give you one more tool to assist you in your financial decision making we are allowing members to apply for government shutdown loans until close of business on February 1st. The loans do not require a payment for sixty days from the date your loan is funded. And through March 31st your loan will have a zero interest rate and we will not charge you interest during that time.
What does that mean for you? You can pay off the government shutdown loan anytime up to March 31st and not pay any interest. If you decide that you cannot pay off the loan at that time it will revert to 8.99% and you will have two years from the date that your loan funded to pay off the loan. And we will not add on any interest from before March 31st. So you have two great alternatives. Pay off the loan and don’t pay any interest by March 31st or make the payments over two years at the low rate of only 8.99%.
One more item to report to you. If you are having difficulty paying on other loans you have with the credit union we offer a skip-a-pay program. Through Friday, February 1st we will waive our normal fee on this program.
The past few weeks have been financially very difficult for many people. If we can be of assistance to you in any way please contact us at 202-808-3600.