The $294 million Belvoir Federal Credit Union in Woodbridge, Va., is getting ready to help its 27,000 members go over the fiscal cliff if the federal government hits that point.
Congress and the president have until January to reach and sign a deal that will prevent some $600 billion in automatic tax increases and budget cuts, including to the military. Belvoir FCU serves Fort Belvoir and numerous SEGs in the surrounding community in Fairfax County, home to a large number of federal workers.
“We hope a fiscal cliff is averted and Congress comes to an agreement. However, if a compromise is not reached, Belvoir Federal stands ready to serve our members who are impacted by providing financial options and services to assist them during this challenging time,” said Belvoir FCU President/CEO Patricia Kimmel.
The credit union's help will include emergency loans (one year at a low rate and 60-day deferment), loan workouts and skip-a-pay options, as well as financial coaching.
The credit union has created a fiscal cliff landing page on its website.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
