Montana credit unions offering programs to help struggling furloughed federal employees

Posted at 3:52 PM, Jan 15, 2019
and last updated 2019-01-15 17:52:18-05

BILLINGS – According to a report by the employment website Career Builder, 78 percent of American workers are living paycheck to paycheck.

With payday coming up for most of us, the stress on furloughed government employees continues to mount.

Montana Credit Unions, a statewide trade group, announced Friday its member institutions are launching new programs to help, including payment skips and extensions and fee waivers.

Montana banks all across the state are also offering assistance to federal employees as well.

In Billings, Valley Credit Union is offering a skip-a-payment with no fee to help their affected members manage their bills.

Sky Federal Credit Union in Livingston is offering a two-month payment skip with no fee on loans.

Park Side Federal Credit Union in Whitefish is also officer a two-month payment skip.

And Rocky Mountain Credit Union in Helena is offering no payment for 45 days on loans.

“We have given our lenders the flexibility to look for low or no-impact solutions for our members affected by the government furlough” stated Jim Carter, Vice President of Lending and Member Services for Montana Federal Credit Union.

Additionally, the personal finance website reports that one-quarter of Americans, around 55 million people, have no savings at all.

The Farmer’s State Bank Branch in Florence. (MTN News photo)

MISSOULA – Another Western Montana bank is stepping forward helping federal employees impacted by the partial government shutdown.

Farmers State Bank has announced the availability of Emergency Assistance Consumer Loans designed to help qualifying people affected by the shutdown.

These personal loans are designed to assist with mortgage or car payments, medical bills, groceries or any other need while the applicants are either furloughed or working without pay due to the shutdown.

These one-year loans have low annual percentage rates and no opening fee.

Qualified applicants must have proof of furlough or working without pay during the shutdown. Call (406) 642-3431 or click here for more information.

Farmers State Bank has locations in Kalispell, Missoula, Hamilton, Stevensville, Darby, Victor, Florence, Lolo and Helena.
Stockman’s Bank and the Missoula Federal Credit Union are also offering help to those being hit by the partial federal government shutdown.