Government Furlough Assistance

Home Loans Government Furlough Loan

First Federal Credit Union is prepared to provide financial assistance to U.S. Government employees impacted by the temporary furlough.  Special terms to meet short term financial needs are available.

 

Special Financing Terms

Affected members may be eligible for:

  • Unsecured loan amounts up to $5,000.00
  • No interest accrual on amount borrowed during the U.S. Government Furlough
  • Interest will accrue beginning on the first payroll date following the ending date of the Furlough.  The interest rate will be 4.00%.
  • The first monthly payment will be due 60 days following the first payroll date. 
  • Loans will be amortized for 18 months, with 17 payments of $300.00 and one final payment of approximately $52.90 (based on $5,000 loan amount)
  • Loan can be paid off at any time without penalty.

 

Guidelines

  • Members must show proof of furloughed status
  • Minimum loan underwriting standards may apply
  • Proceeds must be deposited into a First Federal checking account

Apply for Furlough Assistance Now!