We know, a lot of federal employees are currently affected by the government furlough and that Montana, on a per capita basis, has a high proportion of federal employees. We see that same thing reflected in our membership, which is why MFCU is offering some additional support options for members who might be needing some extra help.
Specifically, we are doing three things to help address some of the pain our members might be facing:
- First, loan servicing teams are showing maximum sensitivity and flexibility when collecting loan payments. We are waiving late fees, allowing skipped loan payments, and pushing loan extension and forbearance possibilities as far as we can.
- Second, we have rolled out an emergency loan for federal employees. The maximum loan size will be one month’s gross pay, up to $5,000, and there will be no payments required for the first 90 days.
- Third, we have a full-time financial counselor on staff to help members think through some of the financial challenges and trade-offs they might be facing. Time with this individual comes at no cost to members.
MFCU stands by its members and is here to assist you during this difficult time. Our staff will walk you through the options available to you, and together we can work to find the right solution for you.
Please feel free to stop by your local branch or call us at (406) 523-3300 and let us know how we can help you.