ORNL Federal Credit Union has created a loan program to help members who are federal employees and not receiving a paycheck due to the partial shutdown of the federal government.

The Furlough Assistance Loan Program offers affected members the opportunity to apply for an unsecured loan at 0 percent interest for the first six months and 3 percent interest for the rest of the term, a press release said.

“The special rate is available to ORNL FCU members who meet specific qualifications, including very limited underwriting requirements,” the press release said. “It offers a maximum term of 48 months, members can take up to 90 days to make their first payment, and the limit is based on the furloughed employee’s income.” [Read more…]