Financial Help for Federal Workers

Jan 16, 2019

Financial help is now available for some federal workers not being paid during the partial government shutdown. For its members, the I-H Mississippi Valley Credit Union is offering to loan them up to 5,000 dollars for one year, with a 2 per cent interest rate, to make up for lost wages, and borrowers can miss one monthly payment at no charge, excluding mortgages.

Vice President Amy Orr says the credit union has helped seven of its members so far since the shutdown began, with assistance totaling 8,000 dollars.

"We're here to help and very hopeful that this will provide some relief for our members to help reduce that financial stress that they have that they they may not be getting their next paycheck."

The members receiving help come from a variety of agencies in the Quad Cities area, including the TSA, Department of Justice, and Agriculture department.

Orr says this help for federal workers was first developed by the IHMVCU several years ago when workers for the state of Illinois were in danger of not being paid during the state's budget impasse.