The $300 million, 27,000-member Belvoir Federal Credit Union is getting ready for the budget cuts the suburban Washington credit union expects would hit its membership hard should sequestration occur.

The Woodbridge, Va., credit union said it will offer an emergency loan at a 0% APR for the initial 60 days. Belvoir Federal also will offer loan workouts, skip-a-pay options and financial coaching.

“We truly hope a sequestration is averted and Congress comes to an agreement. However, if a concession is not attained, Belvoir Federal stands ready to serve our members by providing financial options and supportive services during this strenuous time,” Patricia Kimmel, Belvoir Federal's president/CEO said in a statement.

Sequestration is the $1.2 trillion in automatic spending reductions that are set to take effect March 1 unless Congress acts to prevent it.

Belvoir Federal was founded in 1946 and serves Fort Belvoir and the armed forces community. The credit union has made similar preparations in times of budget crisis, including the recent fiscal cliff showdown.