NAFCU on Wednesday launched a new online resource for furloughed federal employees seeking financial assistance from a credit union.
The Credit Union Furlough Assistance page provides links to credit unions that have established furlough assistance programs for members. “Credit unions have a history of standing by their members during difficult times, and the sequester is no different," said Quincy Enoch, NAFCU associate director of legislative affairs and military liaison.
"Right now, many credit unions are offering services like financial counseling and customized loans to help members stay afloat,” Enoch said. Secretary of Defense Chuck Hagel announced Tuesday that nearly 700,000 civilian defense workers will be furloughed for up to 11 days in 2013, to begin July 8.
The sequester will affect federal employees across all agencies, Enoch said, and whether or not an affected federal employee’s credit union is offering a furlough assistance program, the trade is encouraging nationwide to turn to their credit unions for assistance. NAFCU will update the web page as needed to ensure credit unions offering programs are listed, and said it will share the list with military organizations. Currently, the site provides links to 57 credit unions offering furlough assistance programs.