BOSTON (CBS) – The day after 800,000 federal employees (8,000 in Massachusetts) missed their first paycheck in what is now the longest government shutdown in United States history, food banks began handing out emergency supplies, and unemployment claims by those workers skyrocketed.
“Not eveyone makes the same amount of money, and a lot of people live paycheck to paycheck,” said furloughed FEMA worker Megan Floyd-Ulrich.
Meanwhile the City of Boston Credit Union is offering help to those of its members who may be federal employees.
“We’re doing everything we can. We want to make sure our members have the ability to meet their ordinary living expenses and not run into any difficult times that could create more credit problems for the financial industry in the future.” City of Boston Credit Union President and CEO Dan Waltz said in a statement. “We want to help our members make sure that they’re able to live during this period of time and not worry.”
Members of the credit union may apply for a 12-month fixed term loan equal to one month net pay up to $5,000. The first 60 days of the loan has a 0.00% Annual Percentage Rate, with no repayment required during that 60 days. For the remaining 12 months of the loan term, the interest rate equals 8.99% Annual Percentage Rate. A copy of the member’s furlough letter is required.
Members affected by the shutdown may also skip a payment on several types of loans at any time during a 12-month period or opt to withdraw CD funds of up to $5,000 with no withdrawal penalty.
A webpage on assistance available to government employees has been set up on the City of Boston Credit Union’s website.
Meanwhile, Congress has adjourned until next week, with no agreement on the border wall.
President Donald Trump has said he would consider an emergency declaration to fund the border wall.