Press Room

VSECU Deploys ‘Member Emergency Loan’ for Impacted Federal Employees

Mel article

MONTPELIER, VT – VSECU, a credit union for everyone who lives or works in Vermont, is offering assistance for members impacted by the partial government shutdown.

The Member Emergency Loan (MEL) is a low-rate loan of up to $1,500, intended to help replace the lost wages of furloughed federal employees, including military personnel. VSECU staff will be working to quickly process these loan applications so affected Vermonters won’t have to enter the New Year with financial uncertainty.

“It’s a frightening prospect to suddenly lose income at any time of the year, but winter in Vermont is an especially difficult time to find yourself suddenly without funds,” said Valerie Beaudin, head of Consumer Residential Lending. “VSECU is here to support our members, and together we’ll get through.”

Members may be eligible for the MEL if they have been in good standing with the Credit Union for at least six months and have proof of federal employment/furlough status. Loan applications can be completed online at www.vsecu.com or at any of VSECU’s nine branch locations.

All members may also be eligible to take advantage of the Skip-A-Payment program, which can allow borrowers to defer a month’s loan payment on consumer loans without incurring financial penalties.

About VSECU
VSECU is a member-owned cooperative and not for profit credit union for everybody who lives or works in Vermont, offering a full range of affordable financial products and services to its member-owners. VSECU is committed to improving the lives of Vermonters by empowering the possibilities for greater social, environmental, and financial prosperity. For more information about VSECU, call 802/800 371-5162 or visit www.vsecu.com.

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