Possible Government Shutdown
Congress is back in session and must pass a spending bill in order to avoid yet another government shutdown. Congress has until September 30, 2015 to pass a bill funding the federal government; otherwise, affected federal employees may be going without paychecks. Congress has not met that funding deadline for the past 18 years. Belvoir Federal is prepared to help our members with the following products and services should the federal government be shutdown. The following will be available for impacted members during the government shutdown:
- Borrow up to $5,000 at a fixed-rate of 4.99% APR* (0% APR for the first 60 days)
- Maximum term is 12 months
- Members may defer their 1st payment for 60 days
- Existing direct deposit to a Belvoir Federal account is required
- Members may work with a loan officer to determine if a loan workout program can be created to help ease your financial hardship
- Skip a regular consumer loan payment at no charge
- Receive free guidance on how to handle your finances during this economic situation
- Contact Belvoir Federal’s Financial Counselor, Shannon Lindstrom, by calling 703.730.1800 ext. 5155 or emailing firstname.lastname@example.org.
For more information contact us:
- Call: 703.730.1800
- Email: Contact Center
1 The maximum loan amount will be equivalent to that of the last (monthly net) direct deposit posted to the member’s account within 30 days prior to the request. The initial rate is 0% APR for the first 60 days. After the first 60 days, the rate is 4.99%APR. Interest will start to accrue on the 61st day of the disbursed loan. For example, if the maximum loan of $5,000 was taken at 4.99% APR for the maximum 12 month term and no payments were made until after the 60 days, the monthly payment would be $511.51. Other restrictions may apply. Contact us for details.
2 Other restrictions may apply. Contact us for details.
3 Skip-A-Pay excludes real estate loans and lines of credit, interest will continue to accrue. Other restrictions may apply contact us for details.