Hopes other financial institutions will follow suit during government shutdown
Washington, DC – Today, Thursday, January 10, 2019, on the eve of over 800,000 federal workers missing their regularly scheduled paychecks due to the government shutdown, Congressman Mark DeSaulnier (CA-11) sent a letter to the Consumer Bankers Association, the Credit Union National Association, and the Mortgage Bankers Association recognizing credit unions for offering interest-free loans to federal workers. The letter also highlights DeSaulnier’s hope that other financial institutions will follow suit.
“Several credit unions across the country have begun offering interest-free loans to impacted federal workers. I applaud these organizations for prioritizing customer well-being and am certain that this will be of great assistance to countless workers and families,” wrote DeSaulnier.
If the government shutdown continues into tomorrow, January 11th, over 800,000 federal workers will miss their scheduled paychecks, and the impact will be felt across the country. Eighty-five percent of the federal workforce resides outside of the District of Columbia. For instance, in California over 37,000 federal workers and their families will miss a paycheck.
“There are opportunities to prevent potentially catastrophic consequences for millions of Americans through cooperation and compassion. I will continue to work in Congress to re-open the government and ensure public employees and contractors are paid, and I appreciate those companies that are stepping up to help during this difficult time,” DeSaulnier continued.
Full text of the letters can be found here.