Wilbur Ross says government employees should just get loans, but it’s not that easy

USAA is offering a low-interest loan that current members can pay back over the next 12 months at a 0.01 APR, according to the spokesperson. But the loan is subject to credit approval.

Navy Federal Credit Union, the world’s largest credit union whose members include workers in the Coast Guard and other armed services and several government agencies, has a no-interest loan program that will cover half to all of a missing paycheck up to $6,000 per pay period with no credit check required. The catch is workers can’t get access to the loan program if they don’t have a direct deposit account there already.

Some 19,000 of the 100,000 or so Navy Federal members eligible for the program signed up to have their first paycheck covered earlier this month and more are expected to sign up for it to cover this week’s check, a spokesman said. He wouldn’t disclose how much money had been disbursed already.

Pentagon Federal Credit Union, with 1.7 million members, has two offerings. For affected workers that have an account with direct deposit already, it is offering a no-interest advance on an overdraft line of credit in the amount of the most recent paycheck up to $6,000. This is available to those who have been PenFed members for 12 months and a direct deposit coming from a furloughed agency.

PenFed also has an unsecured, fixed-rate loan for any affected federal worker. But this is subject to income verification and credit guidelines.

SunTrust, a regional bank in the Southeast, has a 90-day no interest, no-payment loan for affected workers who are the bank’s customers as of the end of December. The loans are for $3,000 to $10,000, subject to some credit conditions.

— With reporting by Liz Moyer

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