0% Loans Offered To California State Workers
SACRAMENTO, Calif. – The Golden 1 CU and other area credit unions are reaching out, as they do every year around this time, to state employees who may see their pay reduced or held up as a result of the state’s budget stalemate.
Golden 1 said it is offering 0% loans to members whose pay falls because of the stalled spending plan. About 1,100 legislative aides and gubernatorial appointees whose pay was stopped on July 1 already have access to so-called budget-impasse loans, according to the credit union giant.
Flyers that tout the program are being distributed in its 84 branches, carrying a message that says “balancing the state’s budget doesn’t have to affect your own.”
Schools Financial CU and Wells Fargo Bank are also offering 0% loans. The loans are available only to current members whose pay is deposited directly into their accounts, according to an official at Schools Financial.