MELBOURNE, Fla. — Teachers and other school employees in several counties will receive some financial relief this summer thanks to two Florida credit unions.
The $1.4 billion Space Coast Credit Union has agreed to extend its zero-interest payday loan offer to Flagler County school system teachers who are in danger of running low of funds this summer due to classes starting later in the fall this year. Loans up to $1,000 for one year are available.
Space Coast said last week it would also make the payday loans available to teachers and school employees in Volusia and Brevard counties. The $396 million Kennedy Space Center Federal Credit Union has also agreed to make loans up to $3,000 available in the same counties.
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According to Florida's new "Save Our Summer" law, school districts are not allowed to start fall classes any earlier than two weeks before Labor Day. Officials have said at least 5,000 Volusia County and 800 Flagler County teachers won't receive their first paycheck until Aug. 31.
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