As the possibility looms for sequestration and federal budgetcuts, including layoffs, the $155 million Tobyhanna Federal CreditUnion in Scranton, Pa., is reminding its members of its Furlough Assistance Program.
|Through the program, members who are laid off from work canreceive up to $7,000 with no interest charge and no payment due,for up to six months.
|''This program has been available for years, but we want toincrease the awareness, especially since one of our affiliatedbusiness groups, Tobyhanna Army Depot, could be affected by thisreduction, '' said Nina Waskevich, vice president of marketing andsales.
|Members can sign up for the program at any time, but cannotaccess funds until the credit union receives written verificationof the member's furlough status.
|Tobyhanna FCU also is extending skip-a-pay options for memberswho currently have loans, with the option to skip up to fourmonthly payments or eight bi-weekly loan payments.
|While Tobyhanna began as a credit union for the army depot,membership is now open through many local employers.
|Tobyhanna has more than 20,000 members and four locations inNortheastern Pennsylvania.
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