Vienna-Based Credit Union Offers Zero-Interest Loans During Government Shutdown

VIENNA, VA — Vienna-based Navy Federal Credit Union is offering a way for its members affected by the federal government shutdown to pay their expenses while their pay is withheld.

The credit union is providing 0 percent APR (no interest or fees) loans to eligible members whose pay is impacted by the government shutdown. The offer is for Navy Federal members who are military servicemembers, federal employees and government contractors paid directly by the federal government, have their paychecks deposited with Navy Federal and are seeing a disruption in income due to the shutdown.

Navy Federal similarly provided assistance to nearly 20,000 members during government shutdowns in 2011, 2013 and 2018-2019.

"We understand how unsettling a potential government shutdown can be for our members and their families," said Matt Freeman, Navy Federal’s senior vice president of digital payments. "In these challenging times, it's important our members know we are here to provide dependable support when they need it most."

Loan amounts depend on the direct deposit amount from the applicant's last paycheck. For example, a paycheck of $1,001 to $1,500 would make the applicant eligible for a $1,000 loan. The maximum loan amount is $6,000.

Members can register for the paycheck assistance program online.