Massachusetts Banks Offer Zero-Interest Loans For Furloughed Workers

BOSTON (CBS) - With furloughed federal workers missing a second paycheck Friday as the government shutdown enters its second month, local banks are offering help.

Eastern Bank, City of Boston Credit Union, Congressional Federal Credit Union, Hanscom Federal Credit Union, Navy Federal Credit Union and Service Credit Union are offering zero-interest loans to furloughed government workers, Congressman Seth Moulton (D-MA) announced Thursday.

The loan amounts and terms differ bank to bank, with some offering as much as a month's pay up to $5,000 or $6,000; some are interest-free for 60 days, some for 90 days.

There are approximately 47,000 federal workers in Massachusetts, about 8,000 of which are furloughed.

Congressman Moulton represents the 6th District, home to the Andover IRS office and NOAA and Coast Guard offices in Gloucester. He has created a resource page on his website to help furloughed constituents find help.

"The American families bearing the brunt of this shutdown are our neighbors, not political bargaining chips," said Moulton. "Our local banks and credit unions get this, and I applaud their efforts to ensure that these neighbors will be able to pay their mortgage, put food on the table, or afford college tuition during this difficult time."