Southland Credit Union has announced a Furlough Relief Loan Program with a 0% interest line of credit to assist federal workers adversely affected by the partial government shutdown that has entered its fourth week.
Southland will provide emergency loan assistance to furloughed government workers who are eligible Members with qualifying loans. Whether they need a short-term emergency loan or loan payment deferral, the credit union will provide support for them and their family.
The Furlough Relief Loan Program options include an Emergency Relief Line of Credit with 0% Interest until April 1, 2019, with the first payment deferred to March 25, 2019.
For qualifying Members with existing Southland loans, the credit union will also offer Loan Payment Deferrals for up to 2 months with no fee.
“This is why we exist – to help our Members,” Southland Credit Union President and Chief Executive Officer Thomas Lent said. “We recognize some of our Members who are government employees are impacted by this shutdown and this is a tangible way to show our Members that we care.”
Southland Credit Union has a long history of serving federal workers. The credit union was founded in 1936 to serve the financial needs of Los Angeles County government employees. It also operates a branch located in the Los Angeles Federal Building to serve federal employee Members.
Anyone who lives, works, attends school or worships in Orange County and parts of LA County is eligible to join Southland.
This article was released by Southland Credit Union.