A government shutdown can create sudden financial strain for federal workers. At People Driven Credit Union, we understand how difficult this time can be, and we’re here to help our members through it. Our Government Furlough Assistance Program is designed to provide fast, flexible support.
This program offers three key forms of assistance: Financial Counseling, Payment Extensions and Furlough Relief Loans.
Payment Extensions
If you’re a federal employee impacted by the furlough and already have a loan with PDCU, a payment extension may be a simple way to ease your financial stress without taking on a new loan.
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- Eligibility: Members in good standing with existing PDCU loans may apply for extensions. If you are not in good standing, we will review your situation on a case-by-case basis.
- Extension Terms: Most members will receive a one-month extension. If the shutdown persists, longer extensions may be considered individually.
- Agreement Required: A “Furlough Extension” modification agreement must be signed to finalize the updated terms.
- Exclusions: Real estate loans, credit cards, and revolving lines of credit are not eligible for this program.
Furlough Relief Loans
For current members furloughed by the government shutdown who need extra funds during this period, PDCU offers a special furlough loan designed to provide immediate relief with supportive terms.
- Interest Rate (APR): 0.00% for the first 60 days, then a fixed rate of 8.24% for the remainder of the 12-month term. Your credit score does not affect the rate.
- Loan Amount: Based on your most recent eligible net direct deposit prior to the shutdown (see chart below). If that deposit was unusually low, we will average typical deposit amounts.
- Underwriting: For members with existing direct deposit at People Driven Credit Union, approval is streamlined. For members without a direct deposit with us, standard underwriting will apply.
- Credit Check: A credit check May be performed, but your FICO score will not impact your eligibility or loan rate.
- Loan Reporting: All loans are reported to credit bureaus as regular unsecured loans.
- Disbursement: Funds will be deposited into your usual direct deposit account.
- Repayment: While many repay after receiving back pay, all borrowers are contractually obligated to repay the loan. Failure to repay may result in collection actions and could affect access to other People Driven Credit Union services.
Maximum Loan Amounts (Based on Last Net Deposit)
| Last Eligible Net Deposit | Max Loan Amount |
|---|---|
| Up to $500 | $1,000 |
| $501 – $1,000 | $1,500 |
| $1,001 – $1,500 | $2,500 |
| $1,501 – $2,000 | $3,500 |
| $2,001 – $2,500 | $4,500 |
| $2,501 – $3,000 | $5,500 |
| $3,001 – $3,500 | $6,500 |
| $3,501 – $4,000 | $7,500 |
Note: Members requesting more than the allowed maximum will undergo standard underwriting and may be offered custom terms.
What If I’m Not in Good Standing?
- Previous Delinquencies: We’ll evaluate your situation on a case-by-case basis.
- Fresh Start Loans: Needing a fresh start doesn’t automatically disqualify you. We’ll work with you to explore options.
- CPI on Vehicle Loans: These will be evaluated individually based on payment history.
- Courtesy Pay: No changes will be made to the program. If the shutdown extends beyond one month, we may revisit the terms.
Proof of Furlough
To qualify for any part of the assistance program, members must provide official furlough documentation, preferably a government-issued furlough letter.
Additional Support: GreenPath Financial Counseling
If you’re feeling overwhelmed or nearing a financial crisis, People Driven Credit Union encourages you to connect with our trusted partner, GreenPath Financial Wellness They offer free, confidential financial counseling and support to help you stay financially stable through this and beyond.
Next Steps
Ready to Apply?
- Gather your official furlough documentation.
- If you need a Payment Extension, complete the Skip-a-Pay form in the MyPDCU app, or call us at 248-263-4100.
- For a Furlough Relief Loan, apply online.
Our team entire team from Member Service Representatives to eServices, Loan, and Solutions Departments, is ready to assist you with care and compassion. We’re committed to helping each member navigate this period with personalized solutions that truly make a difference.
Together, we’ll help you weather this furlough and come out stronger. If you have any questions, please don’t hesitate to reach out.
