CLINTON TOWNSHIP, Mich. – January 7, 2019 – Hundreds of thousands of federal government employees have been furloughed as part of the federal government shutdown that began on December 22, 2018. In order to assist those families who will not get a paycheck until the shutdown ends, Michigan Schools and Government Credit Union (MSGCU) is offering a Government Furlough Program beginning immediately for affected federal workers.
As part of the program, MSGCU is offering a 5.50% annual percentage rate personal loan with no payment due for 45 days. There is no application fee and individuals can borrow up to 100-percent of their previous month’s net pay with a maximum loan amount of up to $5,000. Applicants must verify their federal employment and monthly net pay with recent paystubs or an established direct deposit with MSGCU.
Additionally, MSGCU members who are federal government employees can defer their next payment on existing, regular consumer loans by utilizing the Skip A Pay program at no charge.
Federal employees affected by the federal government furlough should contact Michigan Schools and Government Credit Union to learn more about the Government Furlough Program. For complete details, visit a branch, call (866)-674-2848, or visit msgcu.org/furlough.
About Michigan Schools and Government Credit Union
Founded by a small group of educators, MSGCU has been providing quality financial services to the community for more than 60 years. MSGCU offers a full range of loan, deposit, checking, credit card, mortgage, and insurance products for those that live in lower Michigan. With 14 offices in Macomb, Oakland and Wayne Counties, MSGCU has more than 125,000 members, $2 billion in assets, and has earned a 97% member satisfaction rating for the past ten years. MSGCU has also earned five stars, as reported by Bauer Financial, for more than 20 years, and has been honored as a Top Workplace by The Detroit Free Press six years in a row. MSGCU is insured by NCUA.
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