Washington banks offering aid to federal workers during shutdown
Jan 17, 2019, 4:07 PM | Updated: Mar 18, 2019, 9:57 am
(AP)
(AP)
With hundreds of thousands of federal workers either working without pay or on furlough, a handful of Washington banks want to provide relief.
RELATED: How the shutdown is affecting Washington state
Several banks in the Washington Bankers Association have announced short-term loans with either very low or zero interest rates, in hopes of relieving pressure on federal employees affected by the ongoing partial government shutdown.
Other banks are waiving fees and working with customers one-on-one to help manage their finances during the shutdown.
“I’m proud to see our member banks helping customers affected by this shutdown in their local communities,” said Glen Simecek, president and CEO of WBA, in a news release. “It can be very hard not knowing when your next paycheck is coming, and I am heartened to see our members reducing some of that uncertainty. I encourage anyone affected by the shutdown to reach out to their own financial institution.”
Among the banks in Washington state offering these loans:
- JPMorgan Chase
- Bank of America
- KeyBank
- Wells Fargo
- Washington Federal
- Banner Bank
- First Federal
- U.S. Bank
- 1st Security Bank of Washington
- Cashmere Valley Bank
- Kitsap Bank
- Sound Community Bank
- Baker Boyer Bank
- Union Bank
RELATED: Some TSA workers may quit as shutdown drags on
Earlier in January, the Port of Seattle Commission hosted a federal employee financial aid workshop at Seattle-Tacoma International Airport. Firms like BECU and WSECU were there offering information to federal workers about loans, lines of credit, and financial counseling.
“Imagine how you would feel if you were coming to work and not getting paid — especially if you’re a federal employee and you’re told that you’re non-essential — how does that make you feel about your job? It’s not the way you should be treating employees,” Port of Seattle Commission President Stephanie Bowman told KIRO Radio during the workshop.
As of Thursday, the partial federal government shutdown will have lasted 27 days, the longest in U.S. history.
