The partial government shutdown has now become the longest funding gap in U.S. history. The House and Senate this week will continue work to try to come to an agreement to fund roughly a quarter of the government; the two chambers remain at odds over funding for President Donald Trump’s requested wall along the U.S.-Mexico border.
In addition, a winter storm in the Washington area has closed other parts of the federal government and federal agencies. NAFCU’s offices are also closed today, but staff remain available (find contacts here).
Credit union efforts to support members that have been furloughed or affected by the shutdown have gained national attention and drawn recognition from members of Congress. Some of the services include one-time loans to those whose pay will be disrupted, line-of-credit limit increases, deferred payments on existing loans, and short-term, reduced rate loans to help meet expenses during the shutdown, to name a few.
NAFCU remains active on Capitol Hill meeting with lawmakers to ensure credit union priorities – such as full funding for the NCUA’s Community Development Revolving Loan Fund (CDRLF), Treasury’s Community Development Financial Institutions (CDFI) Fund and the Small Business Administration’s (SBA) 7(a) and 504 loan programs – are included in any solution.
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