Any individual (member or non-member) 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.
For certain existing loans, an automatic 3-month deferment will be permitted for any existing borrower who can provide verification that they are a government employee impacted by this shutdown. Coastal1 will also waive early withdrawal penalties on deposit products for affected members. 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 as a result of the shutdown; a government issued employee ID; or the individual’s last paystub of 2018 showing wages received.
Call 401-722-2212 for assistance.