With thousands of civilian government workers now into their third week of furlough because of a government shutdown, Launch Federal Credit Union is offering an interest free loan for qualifying Launch FCU members who are affected.
“We are ready to assist our members who are Federal Government civilian workers who may lose pay in the coming weeks due to the government shutdown. By offering a zero percent loan based on their loss of pay, we hope that we can help them continue to make their bills and feed their families” states Joe Mirachi, President and CEO of Launch FCU.
“Our members need to pay bills and buy groceries for their families, even though they may be without pay until the government shutdown is over. To help, we are providing our members with a special zero percent interest loan for up to 12 months, for the amount of one biweekly or two weekly net paychecks, up to $3,000. A Member Services Representative at any Launch FCU branch can assist members with the loan application process,” says Mirachi.
If you are not currently a member of Launch FCU and wish to apply for the loan, you may become a member by opening a savings account with a $5 deposit into a savings account. Proof of a government job is required to apply for the special loan, and you will need to provide a copy of a recent paystub and meet certain qualifications. Speak to a Member Services Representative for additional details. The deadline to apply for the special loan is January 31, 2019 but may be extended if needed.
“Credit unions are about people helping people,” states Mirachi. “We’ve been here for more than 50 years helping people meet their financial needs, through good times and bad times.”