If the federal government can't raise the debt ceiling and it causes a work stoppage for federal employees, Belvoir FCU is offering several options to ease the financial pressure.
The $275 million Woodbridge, Va., credit union has an Emergency Assistance Loan and a skip-a-payment program. Belvoir FCU also offers free financial education and consultation programs.
“We truly hope a government debt default is averted and, that our elected officials decide on a continuing resolution; however, if this is not the case, we stand ready to provide relief and assistance to our members that may be impacted,'' said Patricia Kimmel, the 26,000-member credit union's president/CEO.
Other credit unions also have said they stood ready to help out if work stops or Social Security payments are delayed.
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