Credit unions offer interest-free loans for federal employees | KOB 4

Credit unions offer interest-free loans for federal employees

Casey Torres
January 29, 2019 12:47 PM

ALBUQUERQUE, N.M.—The Credit Union Association of New Mexico (CUANM) is trying to do their part to help federal employees who were furloughed during the government shutdown.


The president of CUANM said they have 42 credit unions in New Mexico. All of them are offering different options to help.

The First Financial Credit Union in Downtown Albuquerque is offering to waive fees and skip loan payments. They also have 20 financial counselors on hand to help.

“We’re gonna offer them, basically, a six month, interest-free loan with 0 percent interest. We give them 80 percent of their last paycheck, full paycheck,” said Greg Shaver, chief lending officer with First Financial. “The first 90 days are no payment, and then the last 90 days we raft the loan to pay it off in six months.”

Shaver said documentation, like furlough letters and the last full paycheck received, can be taken as proof.

List of credit unions offering assistance in New Mexico:

Nusenda Credit Union, Albuquerque

US Eagle Federal Credit Union, Albuquerque

Sandia Laboratory Federal Credit Union, Albuquerque

Zia Credit Union, Los Alamos

Guadalupe Credit Union, Santa Fe

White Sands Federal Credit Union, Las Cruces

Animas Credit Union, Farmington

Otero Federal Credit Union, Alamogordo

Roswell Community Credit Union, Roswell

Click here for more credit union locations


Casey Torres

Copyright 2019 KOB-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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