For The Madera Tribune
SACRAMENTO — Golden 1 Credit Union announced a new program designed to assist members who are experiencing a disruption in pay due to a federal government shutdown. Members who work for federal agencies affected by the current partial shutdown can apply for the Pay Disruption Assistance Program. The credit union is offering mortgage loan forbearances, consumer loan and credit card payment deferments, and short-term low rate loans for eligible members.
“We know how challenging a short-term loss of income can be for families,” said President and CEO Donna Bland. “Our members can rely on us to care for them during good times and bad. We are offering the Pay Disruption Assistance Program to help them stay financially secure during this difficult time.”
Approximately 3,000 Golden 1 members may be eligible for the Pay Disruption Assistance Program. Members who meet the following criteria are invited to apply.
• Be an existing Golden 1 member as of Dec. 28, 2018; and
• Be able to provide written documentation from their federal employer of their classification (Furlough or Excepted Employee) and a recent paystub.
Mortgage loan forbearances and payment deferments on consumer loans and credit cards are available for up to 90 days or the length of the pay disruption, whichever is shorter. Interest will continue to accrue during forbearance and deferment periods.
Short-term low rate loans of up to $5,000.00 are available, subject to credit approval. Rates and terms subject to credit worthiness. Direct deposit or automatic payment is required.
For additional details and information about how to defer an existing loan payment, or to apply for a short-term loan, eligible members should call 1-800-442-2361, or visit a local branch.