Approximately 800,000 federal employees are feeling the government shutdown where it hurts most: their wallet. With living expenses still to pay, federal workers are reeling from weeks without pay. Without a solution to the government shutdown, federal employees could face true economic crisis. Imagine missed mortgage payments, utilities shut down, no food on the table, and late fees adding up! With no end in sight, credit unions are leaning into the credit union mission of People Helping People and offering assistance to their members affected by the lengthy government stand-off. Here is a list of Illinois Credit Unions offering assistance to federal employees:
1st Mid America Credit Union has also initiated a Federal Government Employee Assistance Program Payroll Interruption Loan (PIL). The program offers a 0.00% APR and if paid off within 90 days there is no interest. After 90 days, the loan will go into a repayment period of 12 months at 9.9% APR. The loan has a $3k maximum and $500 minimum per person. In addition to the PIL, 1st Mid America CU is offering 60 day extensions for members on select loans at the credit union (mortgage, HE, and commercial loans are excluded). Click here for more information.
Alloya Corporate Federal Credit Union is offering below market liquidity options to our credit union members serving federal workers and their families impacted by the shutdown. Click here for more information.
CEFCU, Citizens Equity First Credit Union, is providing assistance by offering 0.99% APR loans for 3 months, individualized financial solutions. Click here for more information.
Community Plus Federal Credit Union is asking federal workers or employees of a federal contractor to contact them today to help! Click here to contact Community Plus Federal Credit Union about your options.
DuPage Credit Union is asking for members impacted by the government shutdown to contact them for help. Click here to contact.
Heartland Credit Union is asking for employees affected by the government shutdown to contact them for assistance. Click here to contact them.
IH Mississippi Valley Credit Union is helping members who are unable to make ends meet due to not receiving pay by offering a twelve month 1.99% APR Government Payroll Assist Loan up to $5k. To qualify for the loan members must:
- – Have direct deposit of government payroll
- – Provide a current paystub
- – Provide proof of furlough
IHMVCU is also providing assistance to federal worker members who currently have a loan with the credit union. Members can defer one monthly payment of any IHMVCU consumer loan at no charge (mortgages are excluded). Click here for more information.
KCT Credit Union, serving the western and northwestern Chicago suburbs, is also offering their members who have been affected by the government shut down assistance. Options available are provided on an individual level; members are encouraged to contact the credit union to determine and create a plan that works well specific to each member’s financial situation and needs. Click here for more information.
National Police Credit Union, a division of Chicago Patrolmen’s Federal Credit Union, is offering up to $5,000 at 3.9% for 90-days to federal employees effected by the government shutdown. Click here for more information.
R.I.A. Federal Credit Union is offering help for the many employees affected:
- – With proof of furlough, RIA FCU will defer loan payments up to sixty days or work with members to reduce the rate of payment for up to six months.
- – An 18 month 5.99% APR payroll-impaired loan of up to $3.5k. To qualify for the loan, membership in the RIA FCU is required along with proof of furlough and the most recent paystub.
RIA FCU offers all members the options during tough financial times; refinancing current loans (except mortgages) or applying for a home equity loan may help ease the pain of weeks without pay. Click here for more information.
Scott Credit Union, in Edwardsville, IL is ready to help their members affected by the government shutdown with a six month 0.00% APR Government Shutdown Loan. To qualify for the loan, members need to have had their government payroll directly deposited into their Scott Credit Union account or provide a recent paystub. Click here for more information.
SIU Credit Union is encouraging government employees who have been affected by the shutdown to contact them about options! Click here for information on reaching SIU Credit Union.
University of Illinois Community Credit Union is committed to helping members affected during the government shutdown as well. As a way to help employees of federal government agencies UICCU offers several options:
- – Skip payment – no fee
- – 0% APR for 12 months personal loan with no payment for 90 days
- – 0% VISA Balance Transfer promotion
- – No penalty on early redemption of certificates
Click here to contact the University of Illinois Community Credit Union about these programs.
U.S. Employee Credit Union is offering members four assistance programs to meet member needs.
- – 00% APR Government Shutdown Loans (specific requirements apply)
- – Skip-a-payment
- – Penalty Free Share Certificate Withdrawals
- – Involuntary Unemployment Protection
Click here for more information.
Vibrant Credit Union is also following the credit union philosophy of people helping people, and offering paycheck replacement loans at 0% for 30 days.
For federal employees the pain of life without a paycheck is a stressful reality. Credit Unions are here to stand beside members and ease the frustration and fear that go hand in hand during financial crisis. Click here for more information.