Because of the current U.S. government shutdown, many federal government employees and their families are hurting. In response, Self-Help Credit Union is offering a hardship loan at reduced interest rates of 0% to 3.5% APR (annual percentage rate) for furloughed federal workers.

Loan Features and Requirements

• Applicants must join Self-Help Credit Union before applying for a Government Shutdown Loan, if they are not already a member.

• The Government Shutdown Loan amount can be up to the member’s “take home” pay period total.

• These loans carry a 0% APR* for members who normally have their full net pay direct deposited into a Self-Help Credit Union share draft or share account. The net pay amount must be verified by a payroll stub or member transaction history, and will be due 45 days from the date of issue, or retroactive pay date, whichever comes first.

• These loans carry a 3.5% APR for members (or new members) who do not have their net pay direct deposited into a Self-Help Credit Union account. The net pay amount must be verified by a payroll stub, and will be due 45 days from the date of issue, or retroactive pay date, whichever comes first.

• Loans are eligible to be extended or redone every 30 days until the Federal Government Shutdown ends.

• Members must sign an agreement to pay back the loan when their retro-pay is received. Any member who violates this will not be eligible for a Government Shutdown Loan in the future.

• Members are eligible for multiple loans, if multiple pay periods are missed.

How to Apply.  Current Self-Help Credit Union members can apply online via Online Banking (choose “signature loan” for loan type and indicate “government shutdown” in the loan purpose field). All other applicants should contact a local Self-Help Credit Union branch for assistance in applying. Our branch locations can be found here.