Waterloo, Iowa: Veridian Credit Union will offer interest-free loans to its members whose scheduled direct deposits from the Federal Government are disrupted by the government shutdown.
The amount of the loan will be equal to the member's last direct deposit amount from the government and will be interest-free for up to 30 days.
"Our members have been asking how the government shutdown might impact their personal finances," said Monte Berg, Senior Vice President of Finance at Veridian. "Today, we're letting members know Veridian is available to assist them if their income from the Federal Government is delayed."
Members can also extend their loan payment for 30 days if they do not receive a regularly scheduled Federal Government payment. Members will have the option of receiving the interest-free loan or extending their loan payments; they will not be able to choose both.
"We want to put our members' minds at ease," said Berg. "Veridian accounts remain safe, secure and federally insured up to $250,000. And we're here to help with the short-term hardships those delayed payments might create."
About Veridian Credit Union
Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members. The credit union offers a full range of consumer financial services and employs more than 560 Iowans throughout 26 branches, including seven locations in the Des Moines metro area. For more information, visit www.veridiancu.org or call (800) 235-3228.