In the event of a Department of Homeland Security shutdown or furlough, the $627 million Justice Federal Credit Union in Chantilly, Va., said it plans to offer special assistance to its DHS members.
“As the financial partner to the justice and law enforcement community, supporting our members in time of need is a vital part of our mission,” President/CEO Peter Sainato said. “We were there for our members during the last government shutdown and stand ready to offer special assistance once again.”
Congress has not passed a bill that would provide DHS with funding for the rest of the year. Senate Democrats have blocked Republican attempts to stop President Obama's executive action on immigration as part of a DHS funding bill.
The credit union announced that members confronted with a shutdown or furlough would be able to apply for a special unsecured loan up to $10,000 at an annual rate of 0% for the first 60 days, which would then convert to 4.90% for 24 months. Justice FCU said the loan amount would be based on the member's net pay deposit with direct deposit required.
“In addition, members may defer their first loan payment for up to 60 days. Members with existing Justice FCU consumer loans or credit cards may request to defer one payment per loan,” Justice FCU announced. “The credit union will make every effort to work with members who may find themselves struggling financially as a result of a federal government shutdown or furlough.”
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