With the Federal Government shutdown in effect, we understand the angst that may be felt by those federal workers impacted by the shutdown. How will I pay my bills? How can I make my loan payments on time?
As a credit union founded on the idea of “people helping people” – we want you to know, we’re here for you.
Financial Assistance
Any individual residing in Rhode Island or Massachusetts, who comes to Coastal1 Credit Union seeking financial assistance with their day-to-day expenses during the partial government shutdown period and can provide proof that they are a government employee impacted by this shutdown, will be eligible for a 90-day, interest free, personal loan of up to $3,000. At the end of this 90-day period the loan may be repaid or modified for a longer term at a preferred interest rate. All applicants are subject to credit approval. Membership is required, but can be easily established by opening a $5.00 share account.
For certain existing loans, members will be granted a skip-a-payment with no associated penalties or fees. Coastal1 will also waive early withdrawal penalties on deposit products for affected members.
Government Employee Verification
Acceptable forms of verification for affected government employees include the following – most recent paystub reflecting $0.00 wages; a letter issued by the Federal Government notifying the borrower that they have been furloughed because of the shutdown; a government issued employee ID; or the individual’s last paystub of 2025 showing wages received.
Stop into any branch and speak with a manager to learn more about the assistance options available to you.
Brian Azar
President & CEO