Navy Federal prepares support plan for potential government shutdown

As the deadline for extending federal spending authorization approaches, Navy Federal Credit Union has announced plans to offer financial assistance to its members in the event of a government shutdown. The credit union will provide 0% APR loans to eligible members affected by the potential shutdown, continuing a practice it has implemented during previous shutdowns in 2011, 2013, and 2018-2019.

The paycheck assistance program will be accessible to military servicemembers, federal government employees, and contractors who receive direct deposits through Navy Federal and whose pay would be disrupted by a government shutdown.

"Economic uncertainty has left many of our members concerned about their personal finances," said Pete Amstutz, senior vice president of savings and membership at Navy Federal. "One of the great benefits of being a not-for-profit credit union that exists to serve its members is the ability to offer products and programs like this one, particularly when members have great financial need."

If no agreement is reached by March 14, affected Navy Federal members can register for the assistance program via the credit union's mobile app and website starting March 11. Updates on the program will be provided on Navy Federal's website as necessary.

Navy Federal Credit Union was established in 1933 with just seven members. It now serves over 14 million members worldwide and is recognized as the largest credit union globally. Membership is open to Department of Defense and Coast Guard personnel—both active duty and veterans—as well as civilian employees, contractors, and their families. With more than 365 branches worldwide, Navy Federal employs around 25,000 people dedicated to serving its member base.

For further information about Navy Federal Credit Union, interested parties can visit navyfederal.org. The organization is federally insured by NCUA and is an Equal Opportunity Employer.