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CU System
Palisades FCU Members can skip summer loan payments
PEARL RIVER, N.Y. (7/23/08)--Palisades FCU announced that its members can skip their July and August loan payments through its “Take the summer off” loan program. All members in good standing can skip paying their next two loan payments by having only the interest accrue on their accounts, the credit union said. “The extra money will help me cover the increase in energy costs this summer,” said member Alfred Soto in the credit union’s press release. Higher inflation and slower wage growth has led to falling real hourly and weekly earnings for workers in the area. The shift in buying power of workers’ paychecks is forcing families to cut back this summer, the credit union said. Through the program “we are fulfilling our promise to fit into our members’ lives, not the other way around,” said Mark Welshoff, Palisades president/CEO. Palisades FCU, headquartered in Pearl River, N.Y., has more than $147 million in assets.
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