Troops who need cash during shutdown have options

With no indications how long the federal government could remain shut down, troops face the possibility of their first missed paycheck in less than two weeks. Here are some options for troops who need emergency financial assistance.

Non-Profit relief organizations that work with active duty troops, along with USAA bank and Navy Federal Credit Union are all offering loans of up to $6,000 with 0% interest. Also, local credit unions that cater to local personnel around major bases may have programs ready to help  

USAA Bank customers can apply for no-interest, no-fee loans if they work for a federal agency that is affected by the shutdown and they use direct deposit for their pay from the government, the bank’s website says.

Customers must have made at least one direct deposit in their bank accounts 30 days prior to the shutdown, and they are required to have a physical address in the United States or APO, DPO, or FPO address, and they need to receive credit approval from USAA Bank.

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Once approved, service members will get their loans within 48 hours. Those loans must be repaid within three months in equal installments starting 60 days after  getting the money.

Navy Federal Credit Union’s loans are available to active-duty service members, federal government employees, and contractors paid directly by the federal government, the credit union’s website says.

Those who are eligible for the loans must re-register for the program even if they have registered for past government shutdown loan programs that were previously offered by Navy Federal Credit Union.

“Navy Federal does reserve the right to limit the program to a single pay cycle or to ask the member to re-enroll should a shutdown extend beyond one pay cycle,” the credit union’s website says.

Once customers start getting paid again, Navy Federal Credit Union will automatically deduct the amount they owe.

“We understand how unsettling a government shutdown can be for our members and their families,” Ann Repczynski, assistant vice president of savings and membership at Navy Federal Credit Union, said in a statement. “In these challenging times, it’s important our members know we are here to provide support through the first impacted pay period.”

Local credit unions, such as the one at Fort Bragg, North Carolina and Scott Air Force Base, Illinois, are also offering emergency assistance during the shutdown.

Non-profits serving troops 

Army Emergency Relief, or AER, is the Army’s official non-profit group. It has significantly increased how much money it is making available to soldiers compared with past shutdowns, when the group offered loans of up to $600, according to the group’s CEO former Sgt. Maj. of the Army Tony Grinston.

“AER remains committed to our Soldiers and their well-being,” Grinston said in a statement. “We will do what we can to ensure the most soldiers possible receive financial assistance during this uncertain time.”

Soldiers can go to this link to sign up for emergency assistance. If they are already registered, they can go to their accounts and select the dropdown menu that says: “Application Type: Government Shutdown Relief Loan.” 

Starting on Oct. 30, soldiers will have 30 days to repay the loans, after they receive back pay following the end of the government shutdown, a news release from the group says.

“Before applying, please check with your financial institution to explore any available relief options,” the press release says. “While AER is committed to helping, our resources are limited and rely heavily on donations, many of which are paused during a shutdown.”

The Navy-Marine Corps Relief Society, or NMCRS, also offers interest-free loans and grants to active-duty and retired sailors and Marines for emergencies that can cover expenses including food, car repair, and medical and dental costs.

Marines and sailors can request more information about the emergency assistance that is available during the shutdown at one of the society’s more than 200 offices.

“The government shutdown could have a significant impact on active-duty sailors, Marines and their families, and as we have for over 120 years, NMCRS is prepared to support those who protect our country,” retired Adm. Dawn Cutler, the society’s CEO, said in a statement. “Military life presents a variety of unique challenges, and the loss of income from the shutdown can compound those challenges exponentially.”