Navy Federal: Active Duty Direct Deposits Covered in Shutdown
The $54 billion Navy Federal Credit Union said this week it would cover direct deposits of active duty military members if the government shuts down next week.
A government shutdown is possible at midnight on Sept. 30 if Congress doesn’t act on a continuing resolution, but Navy Federal said it will process Oct. 1 direct deposits to active duty personnel as normal and also will cover their Oct. 15 pay.
"Our number one concern is our members and their families,” Cutler Dawson, Navy Federal president/CEO, said in a statement on Tuesday.
“By covering their 15 October pay, our active duty members will not see a difference in their direct deposit amount—as if there were no shutdown,” he said.
As for civilian employees affected by the ongoing sequestration, Virginia-based Navy Federal already has a program that features a specially priced line of credit, along with other forms of financial assistance.
“This remains in place for all affected federal government employee members in the event of a shutdown,” the 4.4 million member credit union said in its statement.