Tomorrow, thousands of federal workers living in Alabama and Florida will be facing firsthand the pressure of missing their first paycheck because of the partial government shutdown. This standoff, coupled with the stress of not knowing when this crisis will end, has sent many folks running to their local financial institutions, desperate for assistance. Credit unions in these states are working diligently to aid their members and communities by providing assistance.
Credit unions in heavily impacted areas have put together a variety of resources to help members stay fiscally afloat while waiting to go back to work. These offerings range from mortgage loan forbearance, waived fees for skip payments, expedited personal lines of credit and HELOC loans, consumer and credit card payment deferment, emergency short-term and no and low-interest loans, refinancing of auto loans with no payment for up to 90 days, and financial counseling on how best to navigate this incredibly difficult time.
“Credit unions are the first to step up when there is a financial threat to their members and the way Alabama and Florida credit unions are responding to member needs reflects the DNA of credit unions. Though this is a difficult situation for so many, credit unions are ready to assist those being impacted,” said Patrick La Pine LSCU & Affiliates, president/CEO. “We are proud to be a part of the credit union movement that exemplifies the ‘People Helping People’ philosophy.”
The League of Southeastern Credit Unions & Affiliates has compiled a summary page of how credit unions in the two states are reaching out to serve members and their communities. In regions where there are fewer numbers impacted, credit unions are working on a case-by-case basis with their members to navigate through this distressing situation.
Patrick La Pine