Navy Federal Credit Union prepares for possible government shutdown
Jacksonville Business Journal - by Tampa Bay Business Journal
Navy Federal Credit Union said it would cover the April 15 payroll for active-duty military members who have direct deposit at the credit union, in the event of a possible government shutdown.
By covering the mid-month pay, active-duty members will not see a difference in their direct deposit amount, Cutler Dawson, president and CEO of the credit union, said in a news release.
Other steps Navy FCU is taking include expedited approvals for lines of credit, overdraft programs and credit card limits, the release said.
As of midday Friday, Republicans and Democrats on Capitol Hill had yet to reach agreement on a budget measure and avoid a federal government shutdown.
Navy Federal Credit Union, based in Vienna, Va., is the world’s largest credit union with $4 billion in assets, serving all Department of Defense military and civilian personnel and their families. It has eight branches in Northeast Florida with 155,000 area members and $924.8 million in area deposits.
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