VSECU, a credit union for everyone who lives or works in Vermont, is offering assistance for members affected by the partial government shutdown.
The Member Emergency Loan is a low-rate loan of up to $1,500, intended to help replace lost wages of furloughed federal employees, including military personnel. VSECU staff will be working to quickly process these loan applications.
“It’s a frightening prospect to suddenly lose income at any time of the year, but winter in Vermont is an especially difficult time to find yourself suddenly without funds,” said Valerie Beaudin, head of Consumer Residential Lending. “VSECU is here to support our members, and together we’ll get through.”
Members may be eligible for the loan if they have been in good standing with the credit union for at least six months and have proof of federal employment/furlough status. Loan applications can be completed online at vsecu.com or at any of VSECU’s nine branch locations.
All credit union members may also be eligible to take advantage of the Skip-A-Payment program, which can allow borrowers to defer a month’s loan payment on consumer loans without incurring financial penalties.