Golden 1 Credit Union announced the continuation of its support for members impacted by federal government shutdowns, introducing a program designed to help maintain financial stability for those experiencing a disruption in pay.
The credit union is just one of several across California and Nevada serving federal government employees and mobilizing during a government shutdown to provide financial easing measures for members. Many credit unions understand the hardship caused by missed paychecks and have pre-emptively launched relief programs.
Eligible Golden 1 members who work for federal agencies affected by the current shutdown can apply for Golden 1’s Payroll Assistance Loan beginning October 1. Golden 1 has a longstanding commitment to supporting its members during times of financial uncertainty, having previously offered relief programs to provide assistance amid unexpected circumstances.
“Golden 1 recognizes the impact a sudden loss of income can have on individuals and families,” said Erica Taylor, senior vice president of community impact and public relations for Golden 1. “Our commitment to members includes providing practical support and resources to help get them through challenging financial times.”
Loan amounts up to $6,000 are available, based on one month of verified federal net income.
Golden 1 will also waive certificate of deposit early withdrawal penalties for affected members during the shutdown. Additionally, Golden 1 offers loan payment assistance programs that allow members to reduce or make no payments for a defined period.
For additional financial resources and support, Golden 1 members can also access SpringFour, a personalized financial health referral platform, as well as one-on-one financial coaching with a Golden 1 Financial Coach.
