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Banks and credit unions offer interest-free loans to US government workers

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Staff Writer | January 8, 2019
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America   Launch Federal Credit Union

Credit unions across the country have stepped up to help with some of the more generous offers for affected government employees.

Launch Federal Credit Union is issuing a zero-percent interest rate for loans of up to $3,000 to federal government employees. Navy Federal Credit Union is doing the same, but up to $6,000. For more information, check out its frequently asked questions page, CNBC reports.

The U.S. Employees Credit Union is providing interest-free loans to impacted members for 60 days, regardless of their credit score.

Justice Federal Credit Union is offering unsecured loans with low interest rates to any impacted workers at the Department of Justice or Department of Homeland Security.

Credit union FedChoice will waive early-withdrawal fees on some certificates of deposit and issue short-term loans with interest rates as low as 2.50 percent. Among other requirements, you'll need to provide evidence of your furloughed status.

Provident Bank in New Jersey recently announced that it will cancel mortgage and credit card late fees for federal workers and allow them to break their certificates of deposit early without any penalties.

Huntington, a bank based in Columbus, Ohio, with some 960 branches across the Midwest, is offering a "low rate, quick loan program" for customers who are federal employees.

Read the whole story on CNBC.


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