Written by The Business Journal Staff
Golden 1 Credit Union has announced a new program designed to assist members who are experiencing a disruption in pay due to the federal government shutdown, now in its third week.
Members who work for federal agencies affected by the current partial shutdown can apply for the Pay Disruption Assistance Program. The credit union is offering mortgage loan forbearances, consumer loan and credit card payment deferments and short-term low rate loans for eligible members.
“Our members can rely on us to care for them during good times and bad,” said Donna Bland, president and CEO of Golden 1 Credit Union. “We are offering the Pay Disruption Assistance Program to help them stay financially secure during this difficult time.”
Approximately 3,000 Golden 1 members may be eligible for the Pay Disruption Assistance Program. Members as of Dec. 28 who are able to provide written documentation from a federal employer are invited to apply.
Mortgage loan forbearances and payment deferment on consumer loans and credit cards are available for up to 90 days or the length of the pay disruption, depending on which is shorter. Interest will continue to accrue during forbearance and deferment periods. Short-term low rate loans of up to $5,000 are available, subject to credit approval. Direct deposit or automatic payment is required.
Golden 1 Credit Union has about $850 million in local assets and 106,549 members, according to The Business Journal’s Credit Unions list from April 2018. It has five branches in the Fresno-Clovis area, and one each in Madera, Hanford and Oakhurst, according to the Golden 1 website.