This is Part Thirty of a series showing how inflation expands from extension of credit. Previous parts explained how trade taxes, tariffs, levies or countervailing duties, inflation, deflation, barter, postage, war, counterfeiting, history, economics, ‘free’ trade, famine, dearth, climate, auctions, precious metals, religion, credit, loans and education are a national security matter.

Part Thirty. Why study Zero interest loans for Federal employees?

Credit unions and banks say yes. 

On Thursday January 17, 2019,  the Rush Limbaugh Show transcripts mentioned a furloughed government  worker, who is awaiting the end of the partial government shut down.  In the meantime, the worker said their family is relying on credit cards.

   ‘’  But my wife and I are responsible adults who have credit cards that aren’t maxed out. And it’s not optimal to have to pay back a credit card because of the interest rates, but to be honest, we can feed our family with a credit card, and if that’s what we need to do, that’s what we need to do because my wife and I — my wife started working for the federal government at 16 and has worked her way up.’’

      The news is they probably need not use credit cards and become responsible for interest charges, as some credit unions are offering interest-free loans up to the amount of the take home pay for the duration of the shut down.   Most, if not all credit unions also have credit cards, so they have some  business reason reluctance to publicize a special interest free loan for these circumstances.  Make arrangements before financial distress sets in, before you skip a payment, before you borrow on the equity line, before you max out your credit cards.

The web is also reporting options for cash out mortgage refinance for unpaid federal workers, but that would normally be interest bearing, and not a good option, nor would the option be wise for low interest loans. Free is always better than low interest.  There is also the option to contact utility companies directly for forbearance on payments, if the company will forgo all penalties, late fees, and accept a commitment to bring the account current at the next best opportunity, presumably after the paychecks start flowing.

To show the breadth of services, following is a  list of some of the credit unions  just in the Washington District of Columbia area, but the services are nationwide among more than five thousand credit unions with more than a hundred million members.  You just need one which is offering the interest free loan to its furloughed members, and if you belong to another credit union, or bank, present that to your bank/credit union. If your current business doesn’t match or beat the offer, change accounts. The competition is fierce to get and hold customers.  The receiving credit union will be glad to transfer loan balances, sign up direct deposit, and grab off a customer.  Although the names of the credit unions are close to the departments,  over the years the credit unions have expanded to accept any green money, i.e. a direct deposit from any federal employee or family member. 

 NAVY credit union, PENTAGON Federal Credit Union,   TRUE SKY credit union (based in Oklahoma City for FAA employees), 

Pentagon Federal Credit Union 

The Pentagon Federal Credit Union or “PenFed” basically allows anyone to join. If you’re a member or family of the military, a US Government employee, an employee at an “eligible place of business” or an American Red Cross employee/volunteer, you can join. If all else fails, the bank allows membership for those who belong to the National Military Family Association or the Voices for America’s Troops Foundation, available for a $17 one-time fee to any US citizen.

https://www.penfed.org/frequently-asked-questions/assistance/?icid=b00086-_-dflt-_-NONE-_-pfol-_-01082019

21 Jan 2019. FURLOUGH PROGRAM GUIDELINES

PenFed has the following options available for members working for an affected agency who are impacted by the recent government shutdown:

Direct Deposit Assistance

If you are an existing member with PenFed and have an existing direct deposit into a PenFed deposit account, you may qualify for our Direct Deposit Assistance program. This program allows you to take advantage of a 0% advance on an overdraft line of credit in the amount of your most recent direct deposit from a qualifying government agency, up to $6,000.

For qualifying members with an existing overdraft line of credit, your line will be increased by the amount of your direct deposit to accommodate the advance. For members without an overdraft line of credit who otherwise qualify, an overdraft line of credit will be opened for you to accommodate the advance, and no credit check is required for qualifying members. 

If you do not presently have a direct deposit with PenFed and are looking for paycheck replacement or other access to funds during the government shutdown, PenFed offers a furlough loan product. This unsecured, fixed-rate installment loan offers a 2% discount off of an approved applicant’s standard interest rate

            Skip Payment

Consumer loans and lines of credit may be eligible for a skip payment for the month of January.  

If you use this, tell Pentagon Fed you read it at UtahStandardNews.

Navy Federal Credit Union

Navy Federal serves the Army, Marine Corps, Navy, Air Force, and Department of Defense. To join, applicants must work for one of these organizations or be a family member of an eligible employee. Navy Federal allows grandparents and grandchildren to become members.

One extra perk of Navy Federal is 24/7 phone support. PenFed also has generous customer service hours, but Navy Federal comes out ahead if you’re a night owl.

Fortune magazine ranked Navy Federal has been ranked as one of the best places to work for eight years, and membership is at over eight million and growing.

‘’Navy Federal is offering a remarkable 0% APR Government shutdown loan to eligible members who have a qualifying direct deposit (DDNP) prior to the government shutdown. You may apply here The Government Shutdown Loan (GSL) Program at 

www.navyfederal.org/about/government-shutdown.php 

per Chat 21 Jan 2019 with Kim.

            If you use this, tell Navy Fed you read it at UtahStandardNews.

 USAA Bank 

https://www.usaa.com/inet/wc/ent-gov-shutdown-assistance-landing-mkt

Government Shutdown Loan Program

USAA Federal Savings Bank is offering a special government shutdown loan program to support eligible members who are active Coast Guard, Coast Guard Reserve, National Oceanic and Atmospheric Administration Corp, the Public Health Service Corps and their spouses and have a deposit relationship as of 01/13/2019 with USAA Federal Savings Bank. 

so please give us a call to discuss your options 

            If you use this, tell USAA you read it at UtahStandardNews.

Tulsa Teachers Credit Union. Government Shutdown Assistance

January 11, 2019. “Before you miss that mortgage payment or struggle to get money for the electric bill or groceries, please give us a call,” Lyons said. “We want our members to know that they may have options besides high-interest quick fixes that may end up harming their financial future and their credit.”

Lyons also wants to remind members of the skip-a-pay option that is offered to members with loans at TTCU.

            If you use this, tell TTCU you read it at UtahStandardNews.

 Langley Federal Credit Union

https://disb.dc.gov/page/federal-credit-unions-district-columbia-list

Federal Credit Unions in the District of Columbia

• Advantage Financial Federal Credit Union
• AFL CIO Employees FCU 
• Agriculture FCU  Department of Agriculture
• Andrews FCU  Andrews Air Force Base
• Asbury FCU 

https://www.bankofamerica.com/?page=corp_bofacom

Bank of America.  Government shutdown. If you’ve been impacted by the shutdown, call our Client Assistance Program. If you use this, tell BofA you read it at UtahStandardNews.

• BNA FCU 
• Bank Fund Staff FCU
• Budget FCU Office management Budget
• Census FCU  Dept of Commerce
• Citibank, FSB
• Clara Barton FCU 
• Constellation FCU
• DC Christian FCU 
• DC Fire Department FCU 
• DC Teachers FCU 
• Democracy Federal Credit Union 
• Department of Commerce FCU  USG employees
• Department of Labor FCU  USG employees
• Department of the Interior FCU USG employees
• District Government Employees FCU 
• DVA FCU USG employees
• Education Associations FCU 
• Energy FCU dept USG employees
• EP Federal Credit Union  USG employees
• FRB FCU fed reserve bank USG employees
• Fannie Mae FCU USG employees
• FDIC FCU USG employees
• Geico FCU 
• Georgetown Univ. Alumni & Student FCU
• Gethsemane Baptist Church FCU 
• Government Printing Office FCU
• GSA FCU USG employees
• Holy Comforter-Saint Cyprians FCU 
• Hospitality Community FCU 
• Howard University Employees FCU 
• Hoya FCU 
• HUD FCU USG employees
• HUM FCU 
• IBEW 26 FCU 
• IDB-IIC FCU 
• John Wesley AME Zion Church FCU 
• Justice FCU doj USG employees
• Lafayette FCU
• Lee FCU 
• Library of Congress FCU USG employees
• Metropolitan Baptist Church FCU 
• Mount Horeb Baptist FCU
• Mt. Gilead FCU
• NAPFE FCU 
• NASA FCU  USG employees
• National Geographic FCU 
• Navy FCU USG employees
• NLRB FCU  USG employees
• O.A.S. Staff FCU 
• Paho/Who FCU 
• Paramount Baptist Church FCU 
• Peoples-Neighborhood FCU 
• Pepco FCU 
• Phi Beta Sigma FCU
• PMI Employees FCU 
• Police FCU
• US Postal Service FCU USG employees
• Providence Hospital FCU 
• Queen of Peace DC FCU 
• REA FCU 
• Railway Employees FCU 
• Sargent FCU 
• St. Gabriels FCU 
• Tacomis FCU 
• Transit Employees FCU 
• Transportation FCU USG employees
• Treasury Department FCU USG employees
• United States Senate FCU USG employees
• USPS FCUUSG employees
• Washington Telephone FCU
• Washington Typographic FCU 
• White House FCU USG employees
• Wright Patman Congressional FCU USG employees

https://www.dccreditunion.coop/

The American Legion is offering members of the U.S. Coast Guard, who have minor children in the home, temporary financial assistance of one-time grants up to $1,500 per eligible household through our Veterans and Children Foundation. 

The American Legion Temporary Financial Assistance program has received more than 1,000 requests. But we need additional funds to respond to the grant applications that are continuing to pour in.

MORE —

received Monday, January 21, 2019 [these have not been double checked]

Hey Arlington 1st and 2nd Ward Friends! 

I just got this information sent to me from a member of my neighborhood listserv and thought it might be helpful to pass along.

FYI – Passing along some furlough information 

Since the federal government remain closed affecting over 360,000 federal employees in the Greater Washington, DC Metropolitan Area, lets transform this “sour lemon situation” into a “lemonade experience”.  Enclosed below is a listing of businesses and organizations around the DMV that are offering freebies and special deals to furloughed employees with proper Federal Work I.Ds.   Please keep your spirit up and remain positive!

1. Financial Assistance:
Bank of America, Citi, SunTrust  – offer varying degrees of assistance for affected clients through their financial hardship programs, some are on a case-by-case basis, and customers are being asked to contact their bank to learn of the programs. 

Chase – Their hardship programs allow customers who no longer receive a government check directly deposited into their bank account to automatically waive or refund overdraft and monthly service fees until the shutdown ends.. Moreover, according to The Financial Times, Chase will help government workers who could miss a payment on a car, credit card or mortgage payment

Congressional Federal Credit Union – offers furlough solutions ranging from a relief line of credit with an initial rate of 0 percent for 60 days and then 4 percent interest on the remaining balance, to line-of-credit limit increases to payment deferments and more. They are also referring customers with specific concerns to their in-house financial counseling services.

Democracy Federal Credit Union – offering a short-term emergency loan with 0% interest, lending director Antoine McStay said to CNN. They are offering contractors other options, such as delaying their payments on existing loans.

First Command Financial Services – offering solutions including interest-free payroll advances, as well as other assistance.

Navy Federal Credit Union – Federal government employees whose salaries are deposited into their account with this credit union are being offered 0% APR loans up to $6,000, depending on eligibility. The loan does not require a credit check and has no fees or interest. The amount credited to the account will be automatically deducted once government reopens and pay resumes.

The United Way of the National Capital Area – Their Emergency Assistance Fund will provide additional monies to nonprofits that provide food and housing to help them meet the increased demand for their services during the government shutdown.

Thrift Savings Plan – Furloughed federal employees can take a loan against their retirement savings in the TSP so long as they are in that status for fewer than 30 days. Members should read about the shutdown’s impact on TSP contributions, loans, and withdrawals.

Transportation Federal Credit Union – offering furlough preparedness and assistance including money management counseling, short term emergency furlough low-interest loan up to $3,000 to customers, and a Skip-A-Payment option (with fee waiver) for members who already have a consumer loan during the furlough period.

USAA – offering low-interest loans to their Coast Guard and National Oceanic and Atmospheric Administration uniformed officer base, affected by the shutdown. Visit this link to learn more.

Wells Fargo – will consider reversing overdraft fees for customers whose income has been disrupted by the shutdown; and mortgage, loan and credit customers may qualify for forbearance or other payment assistance programs.

2. Utilities

DC Water – Furloughed federal workers who are having hardship paying their bill can learn more about the various program offerings by contacting  customer service at 202-354-3600.

Dominion Energy – offering various forms of assistance, including payment extensions, long-term payment plans and bill payment assistance options. Assistance varies by state.

PEPCO – PEPCO is urging impacted federal workers to consider visiting their website to learn more about the available assistance programs being offered. They encourage those in need to consider applying for the Low-Income Home Energy Assistance Program which provides utility assistance grants.

Washington Gas – offering impacted federal workers flexible payment arrangements, payment deferments, budgeting plan, and financial assistance to pay for their bills via The Washington Area Fuel Fund. Customers should contact Washington Gas customer service representatives at 1-844-WASHGAS for more information and to discuss their individual situations. 

Washington Suburban Sanitary Commission (WSSC) – will be suspending all water service shutoffs, waiving late fees, and working one-on-one with customers impacted by the partial shutdown. Information on their assistance programs can be found at this link.

3. Food: FREE
&pizza – All D.C. locations offer free pizza pies for federal employees between 6pm-8pm during the shutdown.

Baked by Yael – Across from the National Zoo, this popular bakery offers free coffee for federal workers and contractors, and free bagel sandwiches or small orders of soup each weekday to zoo workers working without pay. This is while supplies last. Free cake pop classes for federal workers and contractors.

Carmine’s – Downtown DC – Free order of meatball sliders from 2-4pm during the shutdown. Their happy hour menu will be offered all day long at the bar for as long as the shutdown lasts. 

Charlie Palmer – The steakhouse on Constitution Avenue is offering a free fried chicken sandwich to all government employees during the furlough with a government ID. Add a Blue Point Toasted Lager with fries for $12. Valid as long as the shutdown lingers for lunch guests at the bar only. 
Chef José Andrés – All of celebrity Chef José Andrés’ ThinkFoodGroup restaurants are offering different free sandwiches each day from 2-5pm, to federal employees until they get paid again.. You don’t want to miss these tasty sandwiches. Participating restaurants include:  barmini by José Andrés, Beefsteak, China Chilcano, Jaleo DC, Oyamel, and Zaytinya.

Grilled Cheese DC – offering a free grilled cheese sandwich on Thursday, January 10 from 11 am – 3 pm, and at 4pm and each night afterward until the furlough is lifted, they will offer four cocktails at $5 – the drinks will be that price all night long. Must have government ID for offers.

Junction Bakery & Bistro – This Alexandria bakery if offering a free 12-ounce drip coffee to all federal government employees with work ID.

Pork Barrel BBQ – The award-winning pulled pork sandwich is being offered free of charge to furloughed federal employees and contractors until the shutdown ends. 
Taco Bamba – The Chinatown location is offering a free traditional taco with your federal government ID card.

The Capital Area Food Bank – partnered with Giant grocery stores, free produce will be offered each weekend (as of January 12) from 9am-12pm until the end of the partial government shutdown to the first 250 furloughed federal workers and contractors (with work ID). The five Giant locations are: 7074 Allentown Road, Camp Springs, MD 20748; 10480 Campus Way South, Largo, MD 20774; 1050 Brentwood Road, NE, Washington, DC 20018; 12051 Rockville Pike, Rockville, MD 20852; 6800 Richmond Hwy, Alexandria, VA 22306.

Z-Burger – offering a free single burger (plain, cheese, veggie or turkey) per person for federal workers at their Tenleytown location only, for those with a federal government ID card. This offer is not daily, so please check their Twitter page to learn about upcoming dates and offers.. The next date is Thursday, January 10, 11am-7pm.

4. Discounted Drinks & Food:

BBQ Bus – Founded by a former government contractor, this Georgia Ave. NW BBQ location will slash 25% off the entire menu for federal employees and contractors.

Capitol Lounge – $5 drink specials and cocktails with cute names such as “Nothing Really Mattis” (Mad Dog 20/20 and Vodka) and “Mexico Will Pay For This” (Montezuma Blue tequila, OJ and grenadine).

Catch 22 – 15% off the final bill (excluding happy hour) for all federal employees during the shutdown.

City Tap – in Penn Quarter has extended happy hour with $5 draft beers, $6 house wine and $7 beer and shot combos.

City Winery – in Ivy City has $1 glasses of its own City Winery wines on tap.. 

District Doughnut – on 8th Street in Southeast, Cady’s Alley in Georgetown, and at The Wharf, free coffee with any purchase as long as the shutdown lasts. 
Fazoli’s – Through Sunday, January 13 – buy a drink and you’ll get a free fan-favorite Pizza Baked Spaghetti at participating locations with your federal government ID,

Granville Moore’s – on H Street – offers a 30 percent discount on draft beers until the government reopens.

Little Havana – Show your government ID and get half off all drinks every day until the shutdown is over at this new and colorful Cuban respite in D.C.

Pennsylvania 6 – on Eye St. NW – offering extended happy hour, from 3pm-9pm while shutdown lasts with special $5 mixed drinks, a draft beer and a house wine.

Sugar Shack Donuts – locations in D.C., Arlington and Alexandria will give federal workers with ID a free cup of coffee with any purchase.

The Brighton – in the Wharf – is offering 10% off its regular prices.

The Ugly Mug DC – offers ‘The Affordable Meal Act’ – each Tuesday starting January 15, enjoy $7 meal deals and drink specials starting at 4pm.

5. Performances: Free and Discounted shows

Arena Stage – For government employees affected by the shutdown, Arena Stage is offering a 40% discount on tickets totheir next production, “Kleptocracy” — which begins January 18. Use offer code GVT40 and show your government I.D. when you pick up from the Box Office.

Millennium Stage – Catch up on some of the performing arts at The Kennedy Center’s Millennium Stage. Created to make the performing arts accessible to everyone, their free daily programs begin at 6pm. No advance tickets are required unless otherwise specified. Read how the federal shutdown may impact The Kennedy Center’s hours, programs and employees.

Shakespeare Company – Offering 50 percent off tickets to performances to Noura and Hamlet if you use the promo code “shutdown.” You’ll need a federal government ID to pick up tickets, but can buy tickets to any of the shows which will continue into March.

Signature Theatre – On January 23, federal employees (both military and civilian) can enjoy a special discounted performance of its upcoming Judy Garland: A Star Is Born cabaret. There is a four-ticket limit per federal employee. Show your federal ID when picking up tickets. Tickets include a glass of wine or beer for those ages 21+ or non-alcoholic beverage for those under 21 years old. Get your tickets now.

Woolly Mammoth Theatre Company – Federal workers can take 15% off tickets to the upcoming BLKS, which opens February 4. Use promo code SHUTDOWN.

6. Child Care Services and Schools:

M-NCPPC – Will be waiving child care and preschool fees for dependents of furloughed employees during the shutdown. This includes before and after childcare fees at community centers, therapeutic recreation including Pre-School, Leisure Skills Development, Leisure & Life Skills, Kids Care, Morning Care, Kids Club, Extended Care, and Kids Day Out. In addition, facilities will be waiving the requirement for membership fees to use the fitness rooms (only) at any of the 45 community centers, Wayne K. Curry Sports and Learning Center, Fairland Sports and Aquatics Complex, and Allentown Splash, Tennis and Fitness Park. This is for Prince George’s County residents only with an official furlough letter.

Prince George’s Community College – Eligible students impacted by the partial shutdown can get tuition assistance, one-time grants, holds on accounts and more to support their academic and career goals for the upcoming semester. To learn more about the criteria and required documents, students should contact the Tuition Assistance Hotline at 301-546-0154. In addition, the college offers free individual services and workshops on financial planning, budgeting, debt management, housing counseling, tax preparation, and more.

Prince George’s County Public Schools – The Excellence in Education Foundation Established a ‘10,000 Meals Challenge’ fund that will help pay for student meals during the partial shutdown and beyond. Those interested in donating to the fund may do so at this link.

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