BEND, OR -- Congress needs to approve a continuing resolution by the 15th, to avoid another government shutdown. Kevin Cole says Mid Oregon Credit Union is ready to help furloughed federal workers again; although, he hopes it doesn’t come to that.
Mid Oregon has offered assistance during past shutdowns but, Cole says last month was the first time employees accepted, "We were able to do 23 loans to people, to keep their income coming in. And then, we worked with about 36 others on adjusting their loan payments, so they didn’t have to have as much expense, during the time they didn’t have a paycheck." Cole tells KBND News Mid Oregon Credit Union was one of the first to offer no- or low-interest loans to federal employees, "This time, it seemed to – perhaps because it lasted so long – it seemed to kind of catch on with credit unions, nationwide, which was really great. Literally thousands of credit unions across the country offering interest free loans." He adds, "We started talking about our Furlough Assistance Programs on the first day after the shutdown started. We actually saw the most activity on the day when employees actually missed their first paycheck. So, they didn’t really take advantage of it until their direct deposit just didn’t show up."
The 35-day partial government shutdown that ended January 25 was the longest in U.S. history. It ended when President Trump signed a temporary spending bill that expires next Friday, if a new deal isn't made.