Deadline to stop shutdown near; CUs ready to help
Sept. 30, 2013 – Lawmakers are running out of time to complete action that would prevent a
shutdown of the federal government Tuesday, and credit unions are
standing by with services and programs to help members in the event of furloughs.
The Senate on Friday stripped out provisions defunding the 2010 health-care law, passed and sent back to the House a continuing resolution that would continue to fund the government through Nov. 15 at $986 billion annually. The Senate cleared the measure by a vote of 54-44. The House later sent another version back that provides funding for troops but would delay the health-care law for a year.
Final action is required by midnight to prevent a shutdown of the federal government that would begin tomorrow.
In a live statement Friday from the White House, President Obama encouraged the House to pass a clean government funding bill without provisional riders such as health-care law defunding. He said Congress has two responsibilities: “Pass a budget on time and pay our bills on time.”
As federal government defense employees, including those serving in the military, receive guidance about the potential shutdown, many credit unions are already prepared to offer assistance if needed. Some credit unions say they will defer loan payments, offer no- or low-interest loans and allow penalty-free early withdrawals of share certificates.
NAFCU Associate Director of Legislative Affairs and Military Liaison Quincy Enoch said the association is staying in contact with its member credit unions on the government’s funding situation.