As with any hardship of this nature our team is offering skip a pays and we have even begun to waive certificate withdrawal penalties for withdrawals up to $50,000 for those in a furlough status. However, in order to assist those who did not already have loans/certificates with us, we are offering a 0% loan for 90 days.
Details:
https://www.nwfcu.org/furlough-relief-line-credit
FURLOUGH RELIEF LINE OF CREDIT
If you’ve been furloughed due to the government shutdown, Northwest Federal is here to help with a Furlough Relief line of credit to help you cover expenses. This special line of credit is available for up to $10,000 at an introductory 0% APR* for 90 days. After 90 days, it will convert to 7.00% APR for the life of the balance.
Here’s what you’ll need to secure a Furlough Relief line of credit:
- Be or become a Northwest Federal member;
- Provide loan officer with a copy of your paystub and furlough paperwork;
- Set up loan payments via preauthorized transfer.
To apply:
- Apply online
- Contact our Member Service Center: 703-709-8900 (844-709-8900 toll-free).
Furlough Relief Line of Credit Agreement & Disclosure
APR= Annual Percentage Rate. Furlough Relief line of credit is available to NWFCU members with valid proof of furlough. Line of credit amount is determined based on monthly income as shown on paystub (line of credit amount will not exceed one month income or $10,000, whichever is less). Rate is introductory 0% APR for 90 days. After 90 days, the interest rate will convert to 7.00% APR until balance is paid in full. After 90 days, the credit limit will be reduced to zero. Loan payments must be made via preauthorized transfer. This offer is for a limited time only and is subject to change without notice.
