Bay Federal Credit Union provides assistance to federal employees during shutdown
Emergency Loan and Skip Payment Options Available
CAPITOLA, CA (January 23, 2019) — As the federal government shutdown has reached record length entering its fourth week, Bay Federal Credit Union is announcing programs to aid members affected.
Members impacted by the federal government shutdown can apply for a special emergency loan with no minimum credit score or income documentation needed. The credit union is also offering assistance to members who receive direct deposit from a department or agency affected by the shutdown.
Other programs or options for affected members include the ability to skip a monthly auto loan payment with no processing fee required, programs to assist members concerned about making their monthly mortgage payment, and free financial education and counseling services.
“This historic shutdown is affecting people all over the country,” said Bay Federal President and CEO Carrie Birkhofer. “In the credit union’s tradition of ‘people helping people,’ we want to be sure we are there to assist affected members during this difficult time.”
Bay Federal Credit Union has a long history of helping people in the community. Bay Federal was started in 1957 when local school teachers pooled their money to start a credit union. That investment has grown through an amazing journey of involvement into the area’s largest locally-owned financial institution. Bay Federal employees also volunteer their time and donate their money to local non-profits, schools, and community events.
Members who are affected by the shutdown can visit any Bay Federal branch, or call 831-479-6000 or 1-888-4BAYFED, to discuss options that can help provide financial assistance and peace of mind.
About Bay Federal Credit Union
Bay Federal is a full-service, not-for-profit, community development financial institution that serves over 80,000 members and 2,400 local businesses throughout Santa Cruz, San Benito, and Monterey counties. With more than $1.5 billion in assets, Bay Federal Credit Union is the largest member-owned financial institution in Santa Cruz County, serving its members and the community since 1957. Bay Federal Credit Union has an award-winning employee volunteer program in which employees have given their own money and volunteer for numerous local schools, nonprofit organizations, and community events each year.