NYT highlights CUs’ member service during gov’t shutdown

A New York Times column is highlighting the difference of services offered to members affected by the partial government shutdown between banks and credit unions. “Credit unions managed to figure it out quite quickly,” writes Ron Lieber.

Lieber cites Navy Federal Credit Union and State Department Federal Credit Union in his column, noting zero-percent loans and interest waivers being offered by the credit unions, respectively, to help members who might not receive paychecks during the shutdown.

“Big banks have more resources and don’t have as high a percentage of customers who are facing the prospect of no federal paycheck. So why can’t they make similar loans?” Lieber asks.

 

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