Global Joins Growing List of Credit Unions Offering Sequestration Relief Options

As news of government sequestration and federal employee furloughs sweeps the nation, Global Credit Union is prepared to assist members faced with these unfortunate circumstances.

The Spokane, Wash.-based credit union will support members adjusting to a loss of income due to sequestration by offering:

  • Interest-free loans for up to six months;
  • No-fee loan extensions for existing loans; and
  • Penalty-free certificate withdrawals.

Global Credit Union was founded in 1954 by members of Fairchild Air Force Base, and those long-standing military ties made the credit union that much more committed to providing some avenues for relief.

“Our roots run deep with our military members,” said Global President and CEO Jack Fallis. “If they do experience furloughs, we want to give them time and assistance to adjust. We’ve always been here for our members, and we are here now to help them through if they need us.”

Global is encouraging current members to inquire about emergency assistance soon to make sure they know their options before financial strain becomes an emergency. Federal employees who are not currently members may call the credit union at 800.676.4562 to open a membership account.

Three credit unions in Kitsap County, another area whose economy is very much intertwined with local military outposts and ports, announced plans last week to co-host a free community event called “Surviving Sequestration: A Community Town Hall” on Tuesday in the President’s Hall at the Kitsap County Fairgrounds.

The forum is open to the public and will include speakers and a resource fair to help local residents address any needs, financial or otherwise, stemming from the impact of sequestration on their personal finances. Doors will open at 5 p.m., with a presentation to follow beginning at 6.

 

Questions or comments? Contact Matt Halvorson, Anthem Editor: mhalvorson@nwcua.org.

Posted in Community Impact, CU4Kids, Economy, Federal.