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Credit union making 0% APR loans available to eligible members

VIENNA, Va. (January 8, 2024) – With the federal government facing the risk of a shutdown in the coming days, Navy Federal Credit Union will again offer a paycheck assistance program to help support its members through any potential lapse in government funding. This program will allow Navy Federal to provide paycheck assistance to eligible members should federal spending authorizations due to expire Jan. 19 or Feb. 2 not be extended beyond those dates. 

The program will be available to any military servicemember, federal government employee or contractor who is paid directly by the federal government and receives their paycheck via direct deposit with Navy Federal, and whose pay will be affected by the shutdown. Assistance will be offered to any member who meets these qualifications, regardless of whether their pay is jeopardized by the upcoming Jan. 19 or Feb. 2 deadlines.

“A significant portion of our nation’s servicemembers are concerned about what a potential shutdown of the federal government would mean for their personal finances,” said Pete Amstutz, senior vice president of savings and membership at Navy Federal. “Navy Federal is pleased to again be offering this paycheck assistance program, which aligns with our mission to provide unwavering, world-class support to our members worldwide.”

Navy Federal activated support programs during similar situations in 2011, 2013 and, most recently, in 2018-2019, when it collectively provided loans to nearly 20,000 credit union members. 

About Navy Federal Credit Union: Established in 1933 with only 7 members, Navy Federal now has the distinct honor of serving 13 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of 24,000 and has a global network of more than 355 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.