As hundreds of thousands of federal employees continue to go without pay, some businesses along the gulf coast are offering help. Tyndall Federal Credit Union is now offering no interest loans to qualified government workers to help make it through this tough time.
Tyndall Federal Credit Union representatives said they’ve seen the need and want to help. This specific program is being offered to federal government employees that qualify and there are many in our area that do. Federal workers are already on their way to missing a second paycheck, putting them a month behind. This loan is designed to bridge that gap.
“I spoke to people directly that are being impacted by this in our area…a lot of hard working people that could use a little extra help right now so we were definitely wanting to step up and develop something that would help them out during these times,” explained Regional Branch Manager for Tyndall, Carolyn Nicholas.
Tyndall rolled out this offer about a week ago and company officials say many federal employees have already taken advantage of it. The zero percent loans are being offered to members who are federal employees, but you don’t have to be a member of the credit union right now to qualify.
The conditions of these loans are being given on a case-by-case basis and will mature after 60 days. Tyndall officials said members that need more time to pay back the loan will be able to do so at an interest rate they qualify for. Nicholas said calls are already coming in she’s altready getting calls at her Spanish Fort branch.
“I had someone call and she was not a member and I would say that she was tearful on the phone at the fact that there was someone local that could possibly help her and her family out so it is a stressful time for some very good people,” Nicholas explained.
The loans are being offered to cover up to one month’s salary, not to exceed $10,000. There are 14 branches across the gulf coast from the Florida panhandle to Mobile, including two on the eastern shore. Call or stop in and talk to a representative to see how they can help.
6470 – A Spanish Ft. Blvd.
Spanish Ft., AL 36527
1501-A US Hwy. 98, St. 2
Daphne, AL 36526