Alloya Corporate FCU Makes it Easier for Credit Unions to Help Government Workers

Naperville, ILL – Alloya Corporate Federal Credit Union announced yesterday they are offering below market liquidity options to their credit union members serving federal workers and their families impacted by the partial shutdown of the United States government. The shutdown has placed a significant strain on the economy and the approximate 800,000 federal workers who have not received a paycheck since the shutdown began on December 22, 2018.

Alloya’s special, below market loan is available to credit unions that are actively running a federal employee assistance program during the shutdown. Programs include but are not limited to no interest loans; payment delays on loans; interest-only payments on existing loans; waived penalties on Certificate of Deposit access.

“We have all been hearing the reports that some impacted workers are taking on part-time jobs, soliciting for help through crowdsourcing websites, or receiving charitable contributions from their communities,” said Tim Bruculere, Alloya’s Senior Vice President of Membership. “Many of the impacted individuals and their families are credit union members – and credit unions are rising to the challenge and assisting these members. It gives me tremendous pride during challenging times like these to see our cooperative community come together and do what’s right for those we serve. The mission of ‘people helping people’ is alive and well,” said Bruculere.

 Interested credit unions may email Becky Keenan, Coordinating Lending Consultant.

Alloya provides cooperative financial services to over 1,500 member credit unions nationally, including investment, financial, lending and correspondent services. Headquartered in Naperville, Illinois, Alloya offers a dependable and affordable line of credit, secure and efficient product access and settlement, and unparalleled member service. To learn more, visit www.alloyacorp.org.