Support in Uncertain Times
CU Today recently published an article entitled “CUs Brace For Shutdown As White House Signals Possible Permanent Job Cuts.”
The article highlighted the potential challenges ahead for those employed by the federal government, and featured guidance from Andrews Federal Chief Operating Officer Damita Robinson about how the credit union is proactively supporting those who may be impacted.
Ms. Robinson acknowledged the potential challenges facing federal workers, and offered several resources for support if a government shutdown does occur, including financial counseling and loans to provide financial assistance if federal workers face a gap in pay.
The credit union’s goal is to continue its commitment to “people helping people” and to provide tools that can ease stress, preserve credit, and support families through the uncertainty of a government shutdown.
If you’re concerned about the potential impact of government shutdown, we have a variety of resources set up to help, including:
- Short-Term Loans Up to $5,000
Members facing immediate cash shortfalls can apply for financial assistance loans (up to $5,000) and ensure they have access to funds if paychecks are delayed. - Penalty-Free Withdrawals from Share Certificates
If you have funds in a Share Certificate, you can access them without early-withdrawal penalties if you’re affected by government shutdown. - Flexible Loan Payment Options
If you’re concerned about making payments on your loan, you have access to options that will give you flexibility, including the ability to skip a loan payment or to apply for a hardship. Details for each type of loan are included on our financial assistance options page. - Financial Counseling
It’s completely natural to feel stressed about your financial situation in the face of so much uncertainty. If you need someone to talk to, Andrews Federal partners with GreenPath Financial Counseling to provide personalized guidance for managing obligations. You can request a consultation and take advantage of their free financial counseling services.
It’s our goal to ensure members have the resources and support they need for all life’s challenging moments. If you are concerned about the impact government shutdown could have on you and your finances, please do not hesitate to talk to our team and use our resources to better position yourself financially.
