A metro-east credit union is prepared to help members during government shutdown

Current Scott Credit Union members who are government or civil service employees will be offered help if the government shuts down this weekend.

The credit union will offer affected members a six-month, 0% interest government shutdown loan, according to a press release.

Scott Credit Union members that receive the government shutdown loan would not need to make any payments for up to 60 days.

A government shutdown would cause many government and civil service employees to be furloughed and not paid during the shutdown.

Active-duty military members will continue to work during this time, according to the release, which also stated that an estimated 4 million government employees would work without pay or would not work until the shutdown ends.

“If Congress does not act to prevent it, many of our members, who are already feeling the stress of inflation, could face additional economic hardships,” Scott Credit Union President and CEO Frank Padak stated in the release.

“We stand ready to help our members, especially those who work at Scott Air Force Base and could be out of a paycheck until the situation is resolved.”

The credit union’s loan program will provide the opportunity for members to borrow 100% of their regular net pay, stated the release.

“We are hopeful that Congress can come to an agreement quickly,” Padak added. “We really want to help our members cover the next paycheck or two and then allow them to pay it back. Luckily, they will receive their retroactive pay from the government this time.”

Members will need to have had their government payroll directly deposited into a Scott Credit Union account or provide a current pay stub to qualify for the loan.

For more information about the Government Shutdown Loan Program, visit scu.org/loans.