TEMPE, Ariz. — Members of Continental Federal Credit Union who have lost their airline jobs have access to a new program to help through the transition.
The $203 million CU launched its member assistance program on Aug. 29. Members who provide verification of layoff or furlough can participate in a consumer loan skip-a-payment for 90 days, interest rate reductions to 0.0% APR for up to six months, payment reduction via loan term extensions, quick access to cash with a 0.00% APR share certificate-secured loan, and consumer loan payment protection.
Free financial counseling, investment advisory, insurance and retirement services through third-party partners will be available soon, according to the CU. Members will also be able to enter a giveaway for the chance to win $200 grocery store and $300 gas cards and their monthly bills paid up to $1,500.
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"Our economy is facing tough times and the airline industry is heavily impacted. Airlines are reporting huge financial losses, facing record-high fuel prices and making decisions to greatly reduce their work force which directly impacts our membership," said Tom Glatt, president/CEO of Continental FCU. "Many of our loyal members will face job loss and it's our responsibility to quickly respond and offer assistance."
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