Banks, Credit Unions In Texas Offering Help To Furloughed Government Workers

Alan Scaia
January 17, 2019 - 7:37 am
Bank

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DALLAS (1080 KRLD) - Financial institutions across Texas are offering low-interest loans or letting members defer payments if they have been furloughed by the federal government.

Across the country, 800,000 federal workers have missed one paycheck so far.

In Fort Worth, EECU Credit Union will let members who provide a copy of their furlough letter borrow up to $5,000 interest-free for up to 60 days. EECU will also let members skip a loan payment with no fee and is waiving early withdrawal fees for members who access certificates of deposit.

"We feel like these three options are pretty helpful in this initial stage," says Chief Executive Lonnie Nicholson. "Hopefully, they'll resolve this, and everybody can go back to their normal course of work."

Nicholson says EECU will also offer financial counseling to members if Congress and the president do not resolve their differences soon.

"It's the right thing to do," he says. "These people didn't ask for this to happen."

First Command Bank in Fort Worth is also offering loan assistance and early withdrawals on CDs.

 Justice Federal Credit Union has locations across Dallas and Fort Worth and is offering loans at 2.94% and will let people defer payments for up to 90 days.

Other national chains are also offering help for people who provide a copy of their furlough letter:

Bank of America Personalized assistance is available for workers who call (844) 219-0690.

Chase is waiving overdraft fees for federal employees with direct deposit. Customers can also call (888) 356-0023 to discuss hardship programs.

Navy Federal Credit Union members with direct deposit can apply for interest-free loans by registering at navyfederal.org

US Bank is offering loans of up to $6,000 and mortgage relief for customers who call (877) 760-6046.

Wells Fargo has set up a customer service line specifically for people affected by the shutdown at (800) 219-9739. The bank will refund overdraft fees for customers with direct deposit and waive late fees on credit accounts and loans.