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News Now

CU System
Pa. CUs to help state employees with payless paydays
HARRISBURG, Pa. (5/26/09)--Pennsylvania credit unions will help state employees who will not be paid for their work beyond July 1 unless the state budget passes. The budget deadline is July 1, but employees can continue working beyond it. Pennsylvania State Employees CU (PSECU) is developing accommodations to help state workers, according to the Pennsylvania Credit Union Association (PCUA) (Life is a Highway May 22). Other state credit unions that offer Better Choice loans are preparing to make small loans to state employees. Better Choice is PCUA’s short-term, payday loan alternative. PCUA also will help the Pennsylvania State Treasury publicize credit union alternatives to affected employees. A number of states, including California, have reported that their state workers would not be paid until the state budgets are settled. Credit unions have pitched in to help members affected by the delays. In February, 11 California credit unions provided lines of credit to residents impacted by the state’s cash crunch, which forced the controller’s office to delay roughly $3.3 billion in payments (News Now Feb. 5).
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