Banks And Credit Unions Release Government Shutdown Information

This information is from the 2013 government shutdown.  While it seems unlikely that the government is going to shutdown in October 2015, banks and credit unions seem to be solidifying similar plans, just in case.

Many military-oriented banks and credit unions have organized policies regarding delay of military pay due to government shutdown.  If your bank or credit union is not listed here, mention it in the comments and I’ll see what I can find.

USAA

Updated 26 September 2013: Roger Wildermuth from USAA has confirmed the following information:

USAA is once again prepared to offer a zero-interest payroll advance loan to affected military members with existing direct deposit at USAA if military pay is interrupted by a government shutdown. We also have a number of other solutions, such as special payment arrangements, to help USAA members who receive government payments and find themselves in financial distress due to a shutdown.

Navy Federal Credit Union

In the event that 15 October 2013 active duty military pay is delayed, Navy Federal Credit Union (NFCU) will advance the amount of a usual pay deposit.

In addition, NFCU has an ongoing program for government employees affected by sequestration.  Offers include:

  • Special 3.00% APR Overdraft Line of Credit* If you are a federal government civilian employee, have direct deposit with Navy Federal, and are subject to furlough, you’re eligible for a special rate on our Checking Overdraft Line of Credit.
  • Loan Assistance: We are prepared to work with you on any Navy Federal loan payments.
  • Credit Cards: Expedited approvals for line increases for your existing Navy Federal credit card.
  • Personal Loans: Share Savings and Certificate pledged loans can provide instant funds without dipping into savings accounts. Rates are set at the share or certificate rate plus 2.00% APR. Personal expense loans with no collateral are also available.
  • Penalty-free Early Withdrawal on Certificates: If you need to redeem a Navy Federal Certificate prior to its maturity, we’ll waive any early withdrawal penalties.

Pacific Marine Credit Union

Effective 26 September 2013, Pacific Marine Credit Union has made the following announcement:

In the case of a government shutdown Pacific Marine Credit Union will post the October 15th government employee payrolls for members with direct deposit. This includes active duty and retired military, Department of Defense appropriated and non-appropriated, social security, and disability. For affected members without direct deposit, PMCU will work on an individual basis to provide assistance in the best manner possible. For additional information please watch our website.

Marine Federal Credit Union

Marine FCU has announced that “Marine FCU will post government employee payrolls for members with direct deposit. This includes active duty and retired military, Department of Defense appropriated and non-appropriated, social security, and disability.”  Details are to be forthcoming on the website.

Service Credit Union

Updated 26 September 2013:  Service Credit Union has announced that they will be crediting deposits for military and Department of Defense (DOD) GS pay:

Service CU 2013 Shutdown InfoIf you do not get paid, we will automatically deposit the amount of your military or DOD GS pay into your account, based upon the amount of your last received direct deposit to Service Credit Union at no cost to you.

In addition, Service Credit Union is offering a $1,000 loan at 4.9% interest for existing customers, and customers who switch to Service Credit Union and set up a direct deposit.

Service Credit Union also several ongoing offers for members affected by sequestration.  These include:

  • 0% loan, up to $6,000, for member who use Service Credit Union for direct deposit of their government pay
  • penalty-free withdrawal of funds in Certificates of Deposit

While Service Credit Union has not yet announced their plans in the event of a government shutdown in 2013, their plans in 2011 included the crediting of direct deposit pay and allotments to military service members and their families.

Belvoir Credit Union

Belvoir Credit Union has announced the following offers to help any member affected by a government shutdown:

  • Emergency Loans: 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, 1st payment may be deferred for 60 days.
  • Loan Workouts: 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-Pay: Skip a regular consumer loan payment at no charge.
  • Penalty Free Share Certificate Withdrawal: Take out money in your certificate to help you now without the associated fee.

Air Force Credit Union

Air Force Credit Union has published the following statement:

Air Force Federal Credit Union remains hopeful the ongoing legislative impasse will be resolved and a suspension of federal government payments will be averted on Tuesday, October 1, 2013. If there is no resolution to debate on the debt ceiling, the federal government may opt to defer making payments. This could impact government pensions of retired federal employees, social security recipients, and the military and/or other federal employees.

We are keenly aware of the significant economic hardship such an event would impose on our military and DoD civilian members and their families. Air Force FCU is prepared to make accommodations for affected members.

Air Force FCU is indebted to its military members and we are extremely grateful for their dedication and the sacrifices they make to preserve our Nation’s freedoms. We are honored that they have entrusted us with their financial affairs and their financial well-being is our top priority. We will endeavor to accommodate every affected member’s needs during this difficult period.

If you have any questions, please contact us by phone at 210.673.5610 or 800.227.5328, through online live chat or by visiting one of our nine branch locations. Our Member Contact Center is open 24|7|365, including holidays, to take your calls.

Honestly, this doesn’t actually say anything.  I’d love to hear if someone calls them!

Keesler Federal Credit Union

Keesler Federal Credit Union has announced that it will provide a one-time pay advance if a government shutdown delays 15 October 2013 military pay.  In addition, they are offering penalty-free withdrawals from Certificates of Deposits, loan assistance, and financial counseling.

That’s all I have for now.  Please include any questions or additional information in the comments, and I’ll keep this post updated as more information becomes available.

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.

122 Comments on "Banks And Credit Unions Release Government Shutdown Information"

  1. ABNB Credit Union is our bank. in the event of a government shutdown well they still give us our regular pay deposit?

  2. what about MTB?

  3. Bank Of America… EEKK!!!!

  4. What about Wells Fargo?

  5. Vystar Credit Union is a military based. One to check out.

  6. people are getting up in arms about USAA offering a zero interest payroll loan.
    well, navy fed isn't going to give you money and not want it back once you get backpay..all banks who are doing this are LOANING you the money and WILL expect payback once the shutdown (if we shutdown) is over.
    Instead of depending on banks to feed you, maybe learn the lesson this time and prepare for this. you'd think we all would have after the fiascos of 2011 and 2012. how quickly we all forget…

  7. Anything for BECU? It’s in Washington. Used to just be for Boeing workers.

  8. Anything for BFCU? In Barksdale AFB, Shreveport, LA

  9. What about Tinker Federal Credit Union & Pentagon Federal Credit Union?

  10. Dover Federal CU?

  11. Any information for Pioneer FCU in Idaho?

  12. What about global credit union?

  13. Chase Bank?

  14. Jorge Martinez | September 25, 2013 at 10:00 pm |

    How about BBVA Compass Bank? I am a retiree and have direct deposit from the Department of Defense (Air Force) and the Department of Justice (Immigration Service).

  15. I contacted Tinker Federal Credit Union. They are totally "feet flat". Can't even get up-channeled to ask this quistion.
    I was trying to get answers on Retirement Pay.

  16. Pacific marine ??

  17. chase bank???

  18. What about pacific marine credit union

  19. Pmcu

  20. How about Air Force federal CU?

  21. D.J. Neuberger | September 26, 2013 at 10:08 am |

    How about Alaska USA FCU and Central National Bank out of Kansas. Those are the 2 I Deal with.

  22. Armed forces bank

  23. D. Burchfield | September 26, 2013 at 1:03 pm |

    How about Pentagon Federal Credit Union?

  24. First Command Bank

  25. Elgin Federal Credit Union

  26. Robert McChesney | September 26, 2013 at 7:25 pm |

    What about Northwest Federal Credit Union?

  27. Fort Sill National Bank?

  28. US Bank??

  29. How about NavyArmy Community Credit Union

  30. US Bank?

  31. How about Travis Credit Union?

  32. AF Credit Union should not have wasted so many words to say so little or nothing. CMSgt Canterbury

  33. armed forces?

  34. armed forces bank of california?

  35. Tower Federal Credit Union, military retired pay and civil service retired pay?

  36. Keesler Federal credit union

  37. Wondering about 1st Advantage C U, that is where my Army survivor $ come in. My mentally challenged dau's $ comes in NWS CU, and my SS comes in Wells Fargo Bank. I am very worried for both of us. Thank you for reading this. I am 77 yrs as of Oct. God bless all reading this

  38. We use Triangle Credit Union

  39. Anything from security service fcu or hanscom fcu??

  40. America First Credit Union?

  41. Keesler Federal Credit Union? I believe their main bank is in Biloxi, MS. They have a location at RAF Lakenheath in England and several around Kessler AB

  42. Broadway Bank will do as many others are doing if there is a shutdown. Check out Broadwaybank.com

  43. Desiree Kelley | September 28, 2013 at 2:34 pm |

    Maine savings credit union is where our pay is deposited. In the event of a shut down will they be depositing pay for us?

  44. Fort Leavenworth Community credit union

  45. Richard Carrillo | September 28, 2013 at 5:30 pm |

    SECU of NM

  46. Army Aviation Center Fed CU (AACFCU)

  47. what about Bank of America

  48. Armed Forces Bank??

  49. What about Suntrust bank??

  50. DEPARTMENT OF THE INTERIOR CREDIT UNION (aka) DOIFCU???

  51. Minnco Credit Union?

  52. What about the Associated Credit Union…? It was once government only, now Public. Are there plans for them… Formally known as Federal Employees Credit Union

  53. ruthann Crowley | September 29, 2013 at 3:27 pm |

    What about the Fort Stewart, GA Credit Union. Will they be open and give us our money if needed.

  54. Keesler Federal Credit Union is taking care of its members!

  55. Sorry, it was renamed to First Light Federal Credit Union in El Paso, TX. It there a policy regarding paying members due to shutdown?

  56. Any news from Eglin Federal Credit Union (EFCU)located in Shalimar/Fort Walton Beach FL regarding USAF retired pay

  57. Grow Financial Federal Credit Union in Tampa Florida.

  58. Miltiary Pension | September 30, 2013 at 12:58 pm |

    Olympia Credit Union has no policy to issue payroll or military pension advances if gov shuts down. Yikes…

  59. what about northern tier credit union?

  60. What about Tyndall Federal Credit union in reference to civil service pay and ret pay

  61. What about Armed forces bank?

  62. Anything on SUNTRUST Banks yet?

  63. is there anything on Redstone Federal credit union?

  64. I know I'm just a retiree, so you know, we aren't important anymore (uh, we earned it – past tense, active duty are earning it – present tense…), but since there hasn't been mention we WILL be paid, and the fact I don't trust our government anymore (how many years have they been consistently doing this??), I don't know for certain if we will or will not be paid.

    Can anyone answer that?

  65. tanya p.torres | September 30, 2013 at 5:27 pm |
  66. What about American First Credit Union, Hill Air Force Base and and many branches throughout Utah.

  67. Are non military banks affected by this shutdown

  68. Jesus Sanchez | September 30, 2013 at 7:25 pm |

    Chase?

  69. Tennessee Valley Federal Credit Union

  70. Will Arizona federal credit union be affected by government shutdown?

  71. Robins Federal Credit Union?

  72. National Exchange Bank and Trust, Fond du Lac, WI

  73. What about Andrews Federal Credit Union? Any news from them?

  74. How about First National Bank of Omaha?

  75. Our people in Washington are like little .kids all they do is fight each other. Its a shame that they are all on the ground instead of hanging on a tree like all the rest of the nuts. Glenn

  76. Scott Credit Union?

  77. What about Commerce Banks in Illinoise,Missouri,Kansas Areas?
    My Military, and Civil Service Retirements Checks are Direct Deposit to this Bank?

  78. What about Union Bank of California?

  79. What about San Diego County Credit Union

  80. What about Regions Bank?

  81. norma gordon | October 1, 2013 at 12:46 am |

    Do you know anything about TD bank?

  82. Altana Federal Credit Union In Montana Billings

  83. no deposit of mil retirement pay or Va comp as of 3am edt.

  84. Any word from Barksdale Federal Credit Union in Northwest Louisiana?

  85. SunTrust? We're in Simpsonville, SC.

  86. No active duty pay from Armed Forces Bank as of 0430 est

  87. John Clemens | October 1, 2013 at 4:59 am |

    How about Wells Fargo Bank Systems?

  88. My question is more to the point of the backpay itself. As of today we are "shutdown". While military members will "earn" their pay, potentially it will be in the form of an IOU until the budget issues have been amicably resolved. To that end, what happens with regard to the taxation of military pay IF say for example the shutdown affects more than (1) impending pay period …Example: October 15th and November 1st?? Soooo using November 15th as example, should the shutdown continue through November 1st, when regular pay resumes as of November 15th military members would theoretically be paid in one lump sum and thus taxed on that lump sum….meaning that they WON'T get all of the pay they are actually due. OR, is the government going to pay military members with a taxation 'add-on' such that once the lump sum pay is taxed the military member would get ALL of the actual money they were due as if they'd never missed any paychecks over the period of the shut down??

  89. Langley Federal Credit Union?

  90. Just got my disability pay as of 6:09 a.m. cst.

  91. Linda Means | October 1, 2013 at 7:44 am |

    What about Suntrust Bank

  92. My husband didn’t get his direct deposit from SUNTRUST. As of 7:47 am.

  93. raymond williams | October 1, 2013 at 9:54 am |

    what about chartway FCU members

  94. what about Security Service Credit Union?

  95. What about SIU Credit Union?

  96. Fort Bragg Federal Credit Union

  97. What about firstlight federal credit union??

  98. You know what's really ridiculous about this whole mess? Obviously, the vast majority of those in the military or retired military have been completely left out of the loop when hideous changes take place with regard to their pay. Gee whiz, I thought we hired congressmen to be our advocates and work for us and our wellbeing. Was I wrong on that one! The present congress (the right half of it) is on some sort of power high in that they believe they can just wave their magic wands and destroy the welfare of the U.S. populace. Can't wait for them to be flushed down the loo next year.

  99. Are you able to explain what to expect – was receiving 80% disability and now (Oct 1, 2013) 100% effective Dec 10, 2013 – know it is a real struggle for many – so sorry that so few in Congress understand! Rod Bowles

  100. David Robbins | October 2, 2013 at 12:40 pm |

    What info do you have on Vantage West credit union

  101. What about Fort Gordon Credit Union?

  102. How about Johnson City Federal Credit Union, Eastman Credit Union, or Greater Eastern Credit Union out of Johnson City, TN?

  103. What about Cinfed Federal Credit Union?

  104. Wright Patt Federal Credit Union

  105. Military Man | October 7, 2013 at 5:01 pm |
  106. Eastman Credit Union in Tn.

Comments are closed.