PORTSMOUTH ��While remaining hopeful that Congress can avoid a government shutdown this year, Service Credit Union is already prepared to help those who may be affected financially.
Service Credit Union will credit direct deposit for military and DoD government civilian employee members if the government shuts down in 2015. Service Credit Union will automatically deposit the amount of military or DoD government civilian employee members pay into the members account, based on their last received direct deposit to the credit union.
If members do not qualify for the automatic credit, the credit union will offer a special 0% APR Shutdown Loan up to $3,000 with repayment over 18 months with no payments for the first 90 days for those qualified members with existing direct deposit.
Those military and DoD government civilian employees who want to protect themselves from future government shutdowns, and are not members of Service Credit Union can open up an account with direct deposit of their net pay and qualify.
As part of its year-round standard offerings, Service Credit Unions exclusive Guaranteed Pay program pays military and DoD civilian members anytime they dont get paid. Qualified military and DoD civilian members must have direct deposit of net pay into a Service Credit Union checking account for at least each of the previous three months before Guarantee Pay can be activated.� Members must sign up to be part of this program.
"We wish to ensure that our military and DoD government civilian employee members do not encounter any financial hardship, inconvenience and/or financial harm due to a possible government shutdown" says Gordon Simmons, President/CEO of Service Credit Union. "Service Credit Union is honored to support our loyal members with this safety net in the event of a government shutdown."
If the government does shutdown, Service Credit Union will explore offering more products and services tailored to the needs of its DoD government civilian employee and military members. During the 2013 government shutdown, the credit union offered a special 2.99% APR Shutdown Loan for new members and those without direct deposit. The loan would be up to $3,000 with repayment over 18 months and no payments for 90 days. �Also in 2013, qualified members could withdraw from a current certificate of deposit without any penalties and defer any loan payments for 90 days.
Service Credit Union is a full service financial institution with more than 210,000 members worldwide, offering a wide range of financial products to its members.� With 52 branches including two staffed 24/7 contact centers, and full internet banking services, Service Credit Union serves all branches of the U.S. Military, Veterans and Department of Defense including their families and anyone who lives or works in New Hampshire, and 4 towns in Cape Cod, MA. With over $2.7 billion in assets, Service Credit Union has 34 branches in New Hampshire, one in Massachusetts, one branch in North Dakota, 15 branches on U.S. military bases in Germany and a Virtual Branch.
