Government Shutdown Program

*APR=Annual Percentage Rate. Credit pull is required. Existing HRCU members in good standing with a federal payroll direct deposit going into their HRCU account with credit scores of 640 or higher will be considered a ‘qualified borrower’ for the terms of this program. For qualified borrowers, APR is equal to 0% for a period of 90 days from the open date of the loan. Max loan amount is $6,000 or two (2) times monthly federal salary, whichever is less. No payments for 60 days. For qualified borrowers, loan balance will be converted to an 18-month fixed rate unsecured loan at 8.99% on the 91^st day of the loan being opened. For borrowers with a credit score less than 640, the loan balance will be due upon receiving next federal direct deposit. Loan proceeds will be deposited directly into HRCU account. Government Shutdown Program will end no later than the end of the current Government shutdown. HRCU reserves the right to adjust or end this program at any time.

**APR=Annual Percentage Rate. Credit pull is required. Existing HRCU members without a Federal direct deposit going into their HRCU account and a credit score of 640 or more, are eligible for a maximum loan amount of $6,000 or two (2) times their monthly federal salary, whichever is less. APR is equal to 4.00% for the first 90 days of the loan. No payments for 60 days. On the 91^st day of the loan, the remaining balance will be converted to an 18-month fixed rate unsecured loan at 8.99%. To qualify, a copy of furlough orders and the most recent paystub are required. For qualifying borrowers with a credit score of less than 640, the max loan amount is equal to one (1) federal paycheck amount, verified by recent paystub, not to exceed $2,500.  Loan proceeds will be deposited directly into HRCU account. Government Shutdown Program will end no later than the end of the current Government shutdown. HRCU reserves the right to adjust or end this program at any time.

***APR=Annual Percentage Rate. Credit pull is required. Non-members of HRCU, who are Federal employees, with a minimum credit score of 640 are eligible for a maximum loan amount of $2,500 or two (2) times their monthly federal salary, whichever is less. APR is equal to 4.00% for the first 90 days of the loan. No payments for 60 days. On the 91^st day of the loan, the remaining balance will be converted to an 18-month fixed rate unsecured loan at 8.99%. To qualify, a copy of furlough orders and most recent paystub are required. To qualify you are also required to open an HRCU Primary Savings with a minimum deposit of $5.00 to establish membership with HRCU. Loan proceeds will be deposited directly into HRCU account. Government Shutdown Program will end no later than the end of the current Government shutdown. HRCU reserves the right to adjust or end this program at any time.