ORNL FCU Reaching Out to Federal Employees During Government Shutdown
January 17, 2019
We are a member-owned, not-for-profit community credit union. That means profits are paid back to you with higher savings rates and lower loan rates.
ORNL Federal Credit Union has created a loan program to assist members who are federal employees and not receiving a paycheck due to the recent government shutdown. The Furlough Assistance Loan Program offers impacted members the opportunity to apply for an unsecured loan at 0% interest for the first six months and 3% interest for the remainder of the term.
The special rate is available to ORNL FCU members who meet specific qualifications, including very limited underwriting requirements. It offers a maximum term of 48 months, members can take up to 90 days to make their first payment, and the limit is based on the furloughed employee’s income.
“Many of our members are employed by local government contractors or organizations, such as the Transportation Security Administration and the Department of Justice,” said Colin Anderson, President & CEO of ORNL FCU. “Our goal is to make sure our members and their families are taken care of during their time of need.”
Eligible members can take advantage of the Furlough Assistance Loan Program by contacting the credit union at 865.688.9555 or 800.676.5328. Members can also stop by any ORNL FCU branch for more information.
About ORNL Federal Credit Union
ORNL Federal Credit Union (FCU) is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established on August 6, 1948 with 10 founding members, ORNL FCU’s assets have grown to over $2.1 billion with membership growing to over 165,000. Open to all businesses and anyone who lives, works, worships, or attends school in the 16 counties of East Tennessee, ORNL FCU currently serves members in several convenient locations throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier and Union counties.