September 2023

Providing Peace of Mind – Furlough Assistance Program.

As you may be aware, there is a potential government shutdown looming, which could impact many federal employees nationwide. At Forrit Credit Union, we understand the financial stress and challenges that a government shutdown can bring. As a credit union with a large group of federal employee members, we want you to know that we are here to support you during this period of uncertainty.

Please connect with us to learn more about Forrit CU’s Furlough Assistance Program, which was created to assist our members during this trying time. There are two different options to choose from depending on your needs:

• Skip-A-Payment: Members can defer 1 month payment for consumer loans or home equity real estate secured loans with balances of $100,000 or less. (Not valid on home equity line of credit).*
• “Just In Case” Pay Day Loan: Members can obtain a 60-day loan for up to $6,000 or 70% (rounded up to the nearest $25.00) of their gross bi-weekly pay, whichever is less at a reduced interest rate of 3.00% APR.¹

Eligibility/Qualifications

• Must be a member of Forrit CU for at least 60 days and be in good standing.
• Must be officially furloughed as a result of a temporary government shutdown. (Proof of furlough is required).
• Members may take advantage of Skip-A-Payment or Just In Case Loan, not both options.
• Other restrictions apply.

Your financial safety and security are always our top priority, and rest assured that your funds with Forrit CU are safe and accessible.

Thank you for the trust you place in us and thank you for being a part of Forrit CU! If you have questions, please don’t hesitate to connect with us.

* Offer restricted to government employees who have been a member of Forrit CU for at least 60 days, and have been furloughed as a result of a temporary government shutdown. Proof of furlough required. Interest will continue to accrue during the deferred period which will increase the term of your repayment period and the amount of interest you will pay over the life of the loan. Members may only take advantage of Skip-A-Payment or Just In Case Loan, not both options.

1. APR = Annual Percentage Rate. Offer restricted to government employees who have been a member of Forrit CU for at least 60 days, and have been furloughed as a result of a temporary government shutdown. Proof of furlough required. The loan will be due in full in 60 days. Existing loans must be current. Members may only take advantage of Skip-A-Payment or Just In Case Loan, not both options.