USAA has announced plans to provide financial assistance to its members who may be affected by a potential government shutdown set for October 1. The company stated that it will offer a no-interest loan program to help impacted federal employees manage possible disruptions in their pay.
Members who work for a federal agency impacted by the shutdown and have received an eligible direct deposit into a USAA checking or savings account within the past 30 days can apply for a no-interest loan. The loan amount will match one net paycheck, up to $6,000. USAA also indicated that other payment relief options could be available across its banking and insurance products.
Michael Moran, President of USAA Federal Savings Bank, said, “We have an unwavering commitment to ensure the financial security of our members and this program is part of that value that we deliver every day. Members trust USAA because they can count on us to stand by them through life’s unexpected moments, and exceptional service means meeting them with offerings like this to give them additional peace of mind.”
USAA will inform eligible members when loan applications and other assistance programs become available if a government shutdown appears imminent. Applications will be accessible via the USAA app, website (usaa.com), or over the phone.
Further details about USAA’s financial assistance in response to a possible government shutdown are available at usaa.com/relief.
Founded in 1922 by military officers, USAA provides insurance, banking, and retirement services primarily for U.S. military personnel, veterans who have served honorably, and their families. Headquartered in San Antonio, the organization employs more than 38,000 people worldwide and supports national and local nonprofits each year.
