State employees impacted by a mandatory 10 furlough days from May 2009 through June 2010 can now turn to Credit Union of New Jersey for help.
The $275 million Ewing, N.J.-based credit union has unveiled a new furlough loan product dubbed "Furlough Dough."
The loan is for two weeks of net pay, up to $2,500, at a fixed APR of 6.99% that does not require a credit check.
Credit Union of New Jersey CEO Andy Jaeger said, "This loan offer is a great example of the credit union difference. Our members look to their credit union to offer products and services they cannot find anywhere else and are unique to their employment situation. For CUNJ, it's not about profit, it's about serving our members and being a solution to a problem. We are here to improve their financial lives."
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