Berger to Waters: CUs are stepping up in shutdown
B. Dan Berger
Oct. 16, 2013 – NAFCU President and CEO Dan Berger, responding to last week’s call by Rep. Maxine Waters, D-Calif., for financial institutions to help those affected by the government shutdown, noted credit unions around the country are already offering special products and services to help those in need.
“In the days leading up to the shutdown, NAFCU contacted our membership and notified them of the hardship some of their members may face in the case of a government shutdown,” Berger said. “And the fact is most credit unions across the nation have plans already in place to assist their credit union members that are being negatively impacted by the government shutdown. In preparation for a government shutdown, many credit unions announced they would fund the pay of servicemembers in the event there was an interruption in their pay.”
Waters wrote NAFCU and other trade associations last week about the need to provide help to those negatively affected by the shutdown.
In a letter Tuesday, Berger detailed for Waters the services credit unions are offering federal employees who are still without pay. Among those are direct deposits at zero percent interest, free financial counseling, loan payment deferments and penalty-free withdrawals on certificates. He also highlighted the list NAFCU has begun of credit unions offering such programs for those affected by the shutdown.
CU shutdown assistance programs