With the looming reality of sequestration and federal budget cuts, Langley Federal Credit Union is taking immediate action to support members with special services, emergency loan options and other alternative solutions.
FOR IMMEDIATE RELEASE:
March 1, 2013
Langley Federal Credit Union
721 Lakefront Commons, Suite 400
Newport News, VA 23606
Toll Free: 800.826.7490
NEWPORT NEWS, VA – With the looming reality of sequestration and federal budget cuts, Langley Federal Credit Union is taking immediate action to support members with special services, emergency loan options and other alternative solutions.
“The sequestration will have an enormous impact on Hampton Roads area businesses and residents. We hope Congress comes to an agreement before this goes into effect,” said President/CEO Tom Ryan. “However, we are deeply committed to helping our members through these tough times by offering a number of affordable and alternative solutions. We know that the ripple effects of these cuts will harshly impact member’s lives and stand ready to help in any way we can,” concluded Ryan.
Members affected by budget cuts can call the credit union or stop by a branch to discuss options. These include Skip-A-Payment relief on existing loans, a 0% interest personal loan with no payments for the first 90 days, and penalty-free withdrawals from term shares (CD’s). In addition, LFCU offers free financial counseling to members.
Langley Federal Credit Union serves over 170,000 members and has more than $1.7 billion in assets, ranking the financial cooperative as one of the top 100 largest credit unions in the nation. Located in Hampton Roads, LFCU has served the community for more than 76 years.