Seattle Metropolitan Credit Union was founded by employees of the City of Seattle. As such, we are concerned about the effects of the government shutdown on the men and women who work in public service.
To help these dedicated people navigate this trying time with as little negative impact to their financial situations as possible, SMCU is announcing the availability of short-term Government Shutdown Emergency Loans (GSE Loans) to SMCU members who are unable to report to their positions within the Federal Government.
GSE Loans are available without credit check or income requirements beginning Monday, October 7, to SMCU members in good standing. Loan amounts are equal to one month’s pay, up to $2,500 for the first request. If the shutdown continues for more than two weeks a second request may be granted, up to an additional $2,500.
Loans will be repaid over 12 months at 5.99% APR* with the first payment due in 60 days.
To qualify, applicants must be an SMCU member in good standing for at least 12 months and present evidence of recurring federal payroll deposits or recent pay stubs, in the event they are not enrolled in Direct Deposit.
As a credit union, part of our mission is to take care of our members’ financial well-being. We are honored to be able to lend assistance during a tumultuous event.
To talk to an SMCU loan expert about emergency loans, please call 206-398-5500 or stop by any of our branch locations.
*APR is Annual Percentage Rate and is accurate as of October 4, 2013. APR reflects any prepaid finance charges and is subject to change without notice.