Updates on Government Shutdown and Military Pay
According to recent news reports, the President has directed the Department of Defense to use “all available funds” to ensure active-duty service members are paid during the ongoing government shutdown.
While military members did receive payment on Oct. 15, end of the month military pay has not yet been determined.
What Does This Mean for Andrews Federal Members?
We do not yet know how military members’ pay will be affected at the end of the month.
If the military does receive regularly scheduled paychecks, we will immediately process direct deposits and apply them to members’ accounts.
If the military does not receive their scheduled end of month pay, service members can access our financial assistance programs, 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 stress over 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.
At Andrews Federal, we remain committed to supporting you through challenging times, and we appreciate your membership. If you need additional help and guidance, please do not hesitate to contact us or schedule an appointment at your local branch.
