You want someone who understands the unique challenges that you face...
At FedChoice, we understand the immense pressure and uncertainty you face when unforeseen events, like a government shutdown or disaster, impact your income. As a credit union founded to support the Federal community for over 90 years, our commitment runs deep. We are not just a financial institution; we are your dedicated partner.
When you need us most, our FedAssist program is here to offer real compassion and practical support to help you protect your financial well-being, regain control, and take care of your family.
During a Government Shutdown
With a shutdown currently occurring, FedChoice has made the following options available to our current and new members:
- Furlough Loan
- No Fee Skip-A-Pay options
- If you need additional assistance not outlined above, we encourage you to reach out to us so that we can discuss your options.
As always, we encourage you take advantage of these additional options that could help you find savings or free up cash.
- Balance transfers to our low-rate credit cards
- Home Equity and Instant Access lines-of-credit draws
- Clear Title Loans
- GreenPath Financial Wellness counselors to eliminate financial stress
FedAssist Furlough Loan+
Our 90 years of experience supporting Federal Employees means we are ready to step in when you need it most. We welcome current and new members to apply for this loan!
| You may receive the equivalent of one month's net pay as the maximum loan amount plus 60 days until first payment in 6, 12, 24 or 36 month repayment terms. | |
| Term* | As Low As Rate^ |
|---|---|
| 6 Months | 3.25% APR |
| 12 Months | 4.25% APR |
| 24 Months | 5.25% APR |
| 36 Months | 6.25% APR |
In order to be eligible for this loan, the following criteria must be met:
- You are an employee or Federal contractor for the Federal Government who did not receive a paycheck as a result of the Federal Government shutdown. Most recent pay stub is required to prove employment.
- Copy of Furlough notice is required.
+Proof of Furlough will need to be provided to qualify for the reduced rates. No further discounts may be applied to the Furlough Loan.
* Deviation from offered terms may result in a delay in processing your loan application.
^All credit is subject to credit approval. FedChoice underwriting requirements apply. APR = Annual Percentage Rate. APR is based on evaluation of applicant’s credit at time of application. Your actual APR may vary.
No Fee Skip-a-Pay Options~
Have a loan with FedChoice? You may take advantage of a no cost Furlough Skip-a-Pay (limited to one per loan type) on your FedChoice loan even if you have skipped a payment within the last 12 months. This option is available on vehicle loans, VISA® credit cards, lines-of-credit, and personal loans. Real estate loans do not qualify for this program. Note: Interest will continue to accrue on your account.
Please contact our Member Care Center during regular business hours to request the required Skip-a-Pay document. This document must be digitally signed for us to process the Skip-a-Pay request.
Contact Information:
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Phone: 301.699.6151 or 800.969.6151
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Regular Hours:
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Mon, Tues, Thurs, Fri: 8:30 a.m. – 4:00 p.m. (EST/EDT)
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Wed: 9:30 a.m. – 4:00 p.m. (EST/EDT)
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~Loan must be in good standing when requesting a skip. Not all loans are eligible to be skipped.
Let's talk about the options that are best for you.
Contact us or call 800.969.6151
We look forward to helping you during this time.