Banks and Credit Unions Reaching Out to Federal Workers
For federal employees, Friday marked the first time since the partial government shutdown began that they didn't receive a paycheck. But many banks and credit unions, including Yakima's Cashmere Valley Bank, are reaching out to help. CVB President Greg Oakes says federal workers whose pay is automatically deposited to the bank just need to "come in, sign a quick form and we will advance the amount of their last payroll they received for no interest and no fees. And the repayment," Oakes adds, "will come from the backup pay when the government shutdown ends."
Credit unions and banks can offer short-term, low-interest emergency loans as well. The shutdown is affecting 11,600 people in the Evergreen State, and 380,000 have been furloughed around the nation. Another 420,000 essential personnel, such as airport security workers, are on the job without pay.