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CU System
Pa. CU aids striking Verizon workers with loans
HARRISBURG, Pa. (8/22/11)--Norristown Bell CU, Blue Bell, Pa., is offering a short-term, interest-only loan to help some of the 45,000 Verizon employees who went on strike earlier this month. The employees on strike are members of the Communications Workers of America and International Brotherhood of Electrical Works, according to the Pennsylvania Credit Union Association (PCUA) (Life is a Highway Aug. 19). The loan term is three months. A borrower would be responsible only for interest payments the first two months--about $0.84 on a $1,000 loan--with the balance due the third month. Although $50 million asset Norristown Bell obtained a community charter in 2010, about one-third of its membership is employed by Verizon. Verizon is one of the Pennsylvania’s largest employers, with more than 13,300 employees in the state, PCUA said.


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