Navy Federal Will Offer Paycheck Relief to Members Impacted by Potential Government Shutdown

Credit union again making 0% APR loans available to eligible members

VIENNA, Va. (September 19, 2024) – With the federal government facing the risk of a shutdown on October 1, Navy Federal Credit Union will again offer a paycheck assistance program to help support its members through any potential lapse in government funding.

The program will be available to any military servicemember, federal government employee or contractor who is paid directly by the federal government, receives their paycheck via direct deposit with Navy Federal, and whose pay will be affected by a government shutdown.

“Knowing the financial strain a shutdown of the federal government could place on military families across the country, Navy Federal Credit Union is proud to again be activating this paycheck assistance program,” said Pete Amstutz, Navy Federal’s senior vice president of savings and membership. “This will provide a critical resource to our members in the event their family’s finances are jeopardized by a shutdown.”

Navy Federal activated similar support programs during government shutdowns in 2011, 2013 and, most recently, in 2018-2019, when it collectively provided loans to nearly 20,000 credit union members.

About Navy Federal Credit Union: Established in 1933 with only 7 members, Navy Federal now has the distinct honor of serving more than 13 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Navy Federal employs a workforce of 24,000 and has a global network of more than 360 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.