Navy Federal Credit Union has announced plans to offer a paycheck assistance program to its members in anticipation of a possible federal government shutdown. This initiative aims to support military servicemembers, federal government employees, and contractors who receive their paychecks via direct deposit with Navy Federal and whose income might be disrupted by the potential lapse in government funding.

The credit union's senior vice president of savings and membership, Pete Amstutz, stated, “Many of our nation’s servicemembers are concerned about what a potential shutdown of the federal government would mean for their finances. Knowing the strain this could impose on military men and women across the country, Navy Federal is proud to again be offering this paycheck assistance program to our members should a shutdown occur.”

This program will be available if federal spending authorizations expiring on March 1 or March 8 are not extended. Navy Federal has implemented similar support measures during previous shutdowns in 2011, 2013, and most recently from 2018-2019, providing loans to nearly 20,000 members during those periods.

Founded in 1933 with just seven members, Navy Federal now serves 13 million members worldwide as the largest credit union globally. It operates as a member-owned and not-for-profit organization focused on meeting its members' financial needs. Membership is open to Department of Defense and Coast Guard Active Duty personnel, veterans, civilian and contractor staff, and their families. The organization employs a workforce of 24,000 across its global network of 355 branches.

For further information about Navy Federal Credit Union's services or membership details, visit navyfederal.org.