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Navy Federal Promises to Cover April 15 Payroll

Navy Federal Promises to Cover April 15 Payroll - top government contractors - best government contracting event
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Navy Federal Promises to Cover April 15 Payroll - top government contractors - best government contracting event
cafemom.com

Navy Federal Credit Union plans to do its part mitigating any financial pain its members may feel if the government shuts down. The credit union announced today it will offer advancements to cover the April 15 payroll for all active duty and civilian employees of the Department of Defense currently using the bank“™s direct deposit service.

“We’re hopeful that Congress and the White House will come to an agreement to avoid a shutdown,” said Cutler Dawson, Navy Federal president and CEO. “At the same time, we want to support our members, especially our active duty military members, through this potentially challenging time. We want to ensure, to the extent possible, that our military families do not suffer financially in the wake of a political impasse.”

Navy Federal also plans on rushing approvals for pending lines of credit and extending overdraft protections and credit card limits. The credit union recently announced a zero percent, no fee credit card balance transfer offer as well.

No official word has been released on how the credit union will address loan payments effected by the closure. Navy Federal is asking members to call with any questions or concerns.

In the event of a government shutdown, active and reserve military will receive pay for time worked prior to midnight April 8. The deadline for a funding bill falls midway through the military“™s normal mid-month pay period. If a budget is not passed before midnight Friday, the military will not receive payment for any work after that point until a funding bill passes.

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Written by Neel Mehta

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