Federal government funding is scheduled to expire Dec. 20, and reports indicate Congress has reached a tentative agreement to prevent funding from lapsing. Should no agreement be reached by Dec. 20, the federal government would shut down.
In the event of a shutdown, credit unions around the country are prepared to assist affected members, as they did during the 35-day shutdown that ended in January 2019.
During the 2018-2019 shutdown, more than 500 credit unions:
- Assisted more than 79,000 affected members;
- Issued more than $100 million in low- to no-interest loans; and
- Issued more than 26,000 loan extensions and other modifications, often with fees waived.
During the shutdown, more than 3,000 Americans joined a credit union, recognizing the ways credit unions best met their needs during such an emergency.
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