LAS VEGAS One Nevada Credit Union this morning introduced interest-free emergency loans to furloughed federal civilian employees in the state of Nevada with both members and non-members eligible.
The $696-million CU said federal civilian employees who have been placed on furlough due to the government shutdown can apply to receive an expedited emergency loan to cover paycheck shortages up to a maximum of $2,500. Requests for greater than $2,500 will be reviewed on a case-by-case basis, One Nevada noted.
All granted loans will be interest-free and due in full once normal government operations and earnings resume, ONCU said. To apply, furloughed federal civilian employees should visit a local branch and bring a copy of their Oct. 11 pay stub.
“Federal employees and their families are the innocent victims of the budget standoff in Washington D.C.,” Bradley Beal, One Nevada’s president and CEO, said in a press release. “Having served those employees for many years, we are pleased to provide interest-free loans to help them through this crisis. This is one way we can thank federal employees for their service to the nation.”
One Nevada said it has created other solutions to help members who receive a government paycheck and find themselves in financial distress because of federal budget issues, including special payment arrangements, which could include payment deferral on some loans.
