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Lending / The Ticker

Defense credit unions prepare for government shutdown

Establish processes to help servicemembers, civilian military

trouble lies ahead

Defense credit unions are extending extra support to servicemembers and civilian military employees who may be affected by the government shutdown, the National Association of Federal Credit Unions said.

“We would like to make this information available to the service branches and military support organizations so that they have it available should they be contacted by servicemembers seeking assistance,” NAFCU Associate Director of Legislative Affairs and Military Liaison Quincy Enoch said.

Enoch credited the many defense credit unions which came forward with programs in the run-up to the possible government shutdown in 2011, which included such procedures as “offering to defer payments on existing loans, extending extremely low cost loans and even funding servicemembers’ pay until the shutdown was resolved.”

Source: NAFCU
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