MERRITT ISLAND, FL (February, 2013) - With the possibility of thousands of civilian government workers being laid off or on furlough because of automatic sequestration spending cuts, Kennedy Space Center Federal Credit Union has created an interest free loan for qualifying KSCFCU members who may be affected.
“In the event of sequestration, we are ready to assist our members who are Federal Government civilian workers who may lose pay in the coming months due to unpaid leave and shortened workweeks. By offering a zero percent loan based on their loss of pay, we hope that we can help them continue to make their bills and feed their families,” states Joe Mirachi, President and CEO of KSCFCU. “Back in 2011 when there was threat of a government shutdown, we were prepared to come to the need of our members. We are prepared to do so again by providing them with a special zero percent loan for up to 12 months, for the amount of one biweekly or two weekly net paychecks, up to $3,000. A loan specialist at any KSC Federal Credit Union branch can assist members with the loan application process.”
If you are not currently a member of KSCFCU and wish to apply for the loan, you may become a member by opening a savings account with a one-time $5 membership fee and a $25 deposit into a savings account. Proof of a government job is required to apply for the special sequester loan, and you will need to provide a copy of a recent paystub. Speak to a loan specialist for additional details. Deadline to apply for the special sequester loan is May 31, 2013.
“We are here to help people meet their financial needs,” states Mirachi. “That’s what credit unions are all about, people helping people.”
Kennedy Space Center Federal Credit Union is a full service community credit union with thirteen branch locations throughout Brevard and Volusia counties. Membership is open to all who live, work or worship in Brevard or Volusia counties. For more information on Kennedy Space Center Federal Credit Union, please visit www.kscfcu.org or call (321) 455-9400.