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Justice Federal Credit Union Provides Nearly $8 Million in Special Assistance Furlough Loans Since Beginning of Shutdown

Oct 11, 2013 by Lewis Wood

Employees of the Department of Justice and the Department of Homeland Security turned to Justice Federal Credit Union (Justice FCU) to get them through the uncertain financial times brought about by the government shutdown.

CONTACT:
Sam Murrow
Vice President of Lending
Phone: 703.480.5300                                                             
Murrows@jfcu.org

Chantilly, VA – Employees of the Department of Justice and the Department of Homeland Security turned to Justice Federal Credit Union (Justice FCU) to get them through the uncertain financial times brought about by the government shutdown.

Since the shutdown began, October 1, 2013, Justice FCU has received well over 1,500 Special Assistance Furlough Loan applications from furloughed federal employees totaling nearly $8 Million. Averaging over $1 Million per day in special unsecured, zero and low interest rate loan applications, the Credit Union expects these numbers to continue to climb.

In addition, Justice FCU has received nearly 1,000 loan payment deferral requests for existing consumer loans.

Justice FCU Members affected by the Federal Government Shutdown may apply for a special unsecured loan up to $10,000 at an annual percentage rate of 0% for the first 60 days. After that time, the rate will convert to 4.90% for a term of 24-months.The loan amount is based on the Member’s net pay deposit, with direct deposit required. In addition, Members may defer their first loan payment for up to 60 days.

  • Existing Members with a Justice FCU consumer loan, or VISA credit card, may request to defer one payment per loan.
  • Existing Members with a First Mortgage may request one payment suspension per mortgage loan.
  • Existing members with a non-IRA share certificate may withdraw funds with no early withdrawal penalty.
  • New Members are welcome to join and should contact the Credit Union to learn more about assistance.

Justice FCU will expand Member Service Call Center hours to Saturday, October 12, 2013 from 9:00 AM to 3:00 PM (EST) to further assist members who may be struggling as a result of the shutdown.

Members should contact the Credit Union at 800.550.5328 for special assistance, eligibility, restrictions and qualifications. Members may also apply online at www.jfcu.org for the special furlough loan.

About Justice FCU

Justice Federal Credit Union with assets over $594 M is headquartered in Chantilly, Virginia. The member owned, financial cooperative provides financial services nationwide exclusively to employees of the Department of Justice, the Department of Homeland Security, the Georgia Department of Public Safety, law enforcement communities, their family members, related associations, and contractors.  Locations include Los Angeles and San Diego California, Atlanta and Forsyth Georgia, Illinois, New York, Texas, Virginia, West Virginia and Washington, D.C. For additional information, visit www.jfcu.org.

5175 Parkstone Drive, Suite 200, Chantilly, Virginia 20151 Phone: 800.550.5328

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