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CU System
NASA FCU to aid members if government shuts down
UPPER MARLBORO, Md. (3/21/11)--In response to a possible federal government shutdown on April 8, NASA FCU, with $1.6 billion assets, Upper Marlboro, Md., has said it will provide aid for its members employed by the federal government. If Congress does not approve the federal budget, or fails to extend its current continuing budget resolution, the $1 billion asset credit union will offer federal government members, including contractors, a 0% interest Paycheck and Furlough Relief Loan to cover delayed paychecks or furloughs PR Newswire March 17). NASA FCU services--online, mobile, in-person and over the phone--will be available despite any possible shutdown. “We’re standing by in the event of a federal government shutdown,” said NASA FCU President/CEO Doug Allman. “We’ve always been here for our members, especially in times of financial uncertainty.” The program is also available to new members who join the credit union and meet the program’s criteria. The loans will cover federal employees’ net wages interrupted by a federal government shutdown. For members with delayed paychecks, the 0% interest loans will be offered up to 30 days. After 30 days, loans would convert to a 12-month signature loan at the current annual percentage rate. For furloughed federal workers, a 12-month signature loan will be available with preferred rates, including 0% interest for the first 30 days.


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