MECHANICSBURG, Pa. (6/10/09)--Members 1st FCU, Mechanicsburg, Pa., has designed a program to assist state employees who are members of the credit union if there is a state budget impasse in Pennsylvania. Members who are affected will have the option to either “skip” a payment on any existing loans at no charge, or take advantage of a special 3.9% Annual Percentage Rate (APR) line of credit, providing they meet credit approval criteria (Life is a Highway June 8). The rate will be effective through July 31, and the first payment will be deferred until August. Qualifying members can borrow up to the amount of their normal paycheck. “We serve many state employees who may be impacted if this budget issue is not resolved,” said Bob Marquette, president of Members 1st. “We understand the difficulty this may present to them and are committed to assisting them in any way that we can.” Pennsylvania State Employees Credit Union (PSECU), Harrisburg, also has said it will help its members who may be affected if a budget agreement is not reached by July 1 (New Now June 1). If there is an impasse, PSECU will offer a special loan program for members who are state employees. Employees who stay on the job but don't receive a paycheck can apply for a 0% APR loan (Life is a Highway May 29). For members who meet PSECU’s credit criteria, the 0% rate will be available up until 60 days after the governor signs the new budget into law. After 60 days, the loan would begin accruing interest at 3.9% APR until paid in full. Members participating in the program can borrow up to $1,000 per pay period.