The $54 billion Navy Federal Credit Union said this week it would cover direct deposits of active duty military members if the government shuts down next week.
A government shutdown is possible at midnight on Sept. 30 if Congress doesn't act on a continuing resolution, but Navy Federal said it will process Oct. 1 direct deposits to active duty personnel as normal and also will cover their Oct. 15 pay.
"Our number one concern is our members and their families," Cutler Dawson, Navy Federal president/CEO, said in a statement on Tuesday.
Continue Reading for Free
Register and gain access to:
- 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.
