Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Pa. governor recommends CUs at budget conference
HARRISBURG, Pa. (6/30/09)--State workers should seek out programs offered by credit unions to help their members if the state budget doesn’t pass, said Pennsylvania Gov. Edward Rendell during a press conference last week (Life is a Highway June 26). State workers will not receive paychecks if the state’s budget does not pass by Wednesday. Several Pennsylvania credit unions have said they will help members affected by the potential budget impasse. Pennsylvania State Employees CU (PSECU) has created a special loan program for its members who are state workers. Employees who stay on the job, but don't receive a paycheck can apply for a 0% Annual Percentage Rate (APR) loan (Life is a Highway May 29). For members who meet the credit criteria, the 0% rate will be available for up to 60 days after the governor signs the new budget into law. After 60 days, the loan will begin accruing interest at 3.9% APR until paid in full. Members participating in the loan program will have the option of borrowing up to $1,000 per pay period. Members 1st FCU, Mechanicsburg, Pa., will offer affected members the option to either “skip” a payment on any existing loans at no charge, or take advantage of a special 3.9% APR line of credit if 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, the credit union told Life is a Highway.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
17 minutes ago