- Navy Federal Credit Union Steps Up to Cover April 15 Pay in Case of Government Shutdown
Navy Federal Credit Union Steps Up to Cover April 15 Pay in Case of Government Shutdown
Article Submitted By: Sol Nasisi
Navy Federal Credit Union has announced that it will honor scheduled April 15 direct deposit pay for active duty members in the case of a government shutdown.
Navy Federal Credit Union has announced that it will honor scheduled April 15 direct deposit pay for active duty members in the case of a government shutdown. On its website is also says that details of April 30 pay period will be provided at a later date, assuming the shutdown goes on that long. The hope of course is that the politicians can reach a last minute agreement that will void the need the necessity of this coverage.
In addition to covering the upcoming pay period, Navy Federal is also planning the following in case of a shutdown:
- Overdraft options: Checking Overdraft Line of Credit, with expedited approvals for lines up to $500 and regular lines available up to $10,000. Or Optional Overdraft Protection Service (OOPS), providing up to $500 overdraft coverage for your debit and ATM transactions, checks and bill payments.
- Credit cards: Expedited approvals for line increases for your existing Navy Federal credit card. You may also want to take advantage of our special no-fee balance transfer offer to open a new credit card.
- Personal loans: Share Savings and Certificate Pledged loans can provide instant funds without dipping into savings accounts. Rates are set at the share or certificate rate plus 2%. Personal expense loans with no collateral are also available.
For those credit cards at Navy Federal and may not be able to make a timely payment because of the shutdown, the credit union recommends contacting them via phone or branch. All branches will remain open, including those on base (unless otherwise directed by base commands). 24/7 telephone support is available worldwide at 1-888-842-6328 (overseas, call collect at 1-703-255-8837). ATMs, Navy Federal Online® and mobile banking will all be operating normally.
With $44 billion in assets, Navy Federal is the largest Credit Union in the United States. It's nice to see it stepping up to provide for its members in case of potential hardship.