Senate votes in favor of govt funding bill
WASHINGTON, DC (January 22, 2018) — The Senate voted in favor of a temporary funding bill Monday to keep the federal government open through Feb. 8. The House is expected to quickly approve the measure and President Donald Trump is expected to sign it shortly, ending the government shutdown.
“We’re thankful that this situation has been resolved for the millions of credit union members affected by the shutdown. Credit unions embodied the ‘people helping people’ mantra over the past few days, reaching out to affected members in numerous ways to help them ensure financial stability, and it was inspiring to witness their dedication,” said CUNA President/CEO Jim Nussle. “CUNA will remain fully engaged to protect credit union funding priorities as negotiations continue for a more permanent funding solution.”
Credit unions across the country rolled out additional products and services for affected members as soon as the government shut down, including:
- America’s First CU, Riverdale, Utah, is offering a special Furlough Assistance Loan to affected federal employees of up to $3,000 with terms up to seven months, with one month interest-free;
- Kinetic CU, Columbus, Ga., is offering furlough loans with amounts up to two weeks net pay, with 0% APR for the first 60 days to certain members, as well as options for penalty-free withdrawals on certificates and to apply for extensions on current loans;
- Chartway FCU, Virginia Beach, Va., made special considerations and leniency available to members, offered a free financial review and utilized a hotline to offer assistance to those facing financial hardship; and
- Service CU, Portsmouth, N.H., will post credits to members based on the postings nearest to Jan. 1 for military, government civilians and social security recipients and is offering no-interest 6-month loans of up to $3,000 to those who qualify.
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
