Patelco activates special financial benefits for members affected by federal government shutdown
Government Shutdown Response plan provides members with resources to maintain financial health during furloughs
PLEASANTON, CA (January 3, 2019) — Patelco Credit Unionhas activated its Government Shutdown Response Program to aid its 10,000 to 25,000 members potentially affected by the federal government shutdown.
Patelco’s Government Shutdown Response Program provides immediate access to financial resources to any member in good standing that works as a federal employee. This program includes access to low interest loans, reversal of non-sufficient-funds (NSF) fees or late fees, and more.
“With potentially thousands of Patelco members impacted by the partial federal government shutdown, Patelco remains dedicated to helping these members achieve and maintain financial health and wellbeing,” said Erin Mendez, CEO of Patelco Credit Union. “That’s why we are introducing special benefits including deferred loan payments, waived fees and low-interest personal loans as a financial bridge for members experiencing financial disruption. We will do everything in our power to help members ease their personal financial worry during this challenging time.”
Patelco encourages affected members to contact 800.358.8228 for details on program offers. To make the process as quick and efficient as possible, members should have a copy of their furlough notice or any other relevant notice pertaining to the shutdown.
Government Shutdown Member Benefit Details:
- Waiver of early withdrawal fees on any share certificates.
- Reversal of NSF fees or other late fees.
- Low interest loans at 5.50 percent APR for loans up to $10,000, with a five-year term.
- Payment deferrals on most existing loans through February 28, 2019,for affected members.
About Patelco Credit Union
Pleasanton, Calif.-based Patelco Credit Union is a not-for-profit credit union committed to serving the financial health and wellbeing of its membership. With more than 380,000 members primarily in and around northern California, Patelco is committed to improving their members’ financial well-being and fueling hope and opportunity for its members by offering personalized solutions, advice, and expertise that empower them to achieve personal financial freedom. Founded in 1936 with $500 in assets by employees of the Pacific Telephone and Telegraph Company, Patelco is in the top one percent of U.S. credit unions with more than $7.7 billion in assets. For more information, visit https://www.patelco.org/.