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Furlough Assistance

Home > Member Resources > Furlough Assistance | Furlough Loan | Government Shutdown | Palisades Credit Union

At Palisades we understand that this may be a difficult time for you and your family, both emotionally and financially. Below are some ways that we may be able to help!

Waive Withdrawal Penalties
If you need early access to funds that are currently saved in a Certificate or Holiday Club Account, you may withdraw your funds before maturity. We will waive any associated early withdrawal penalties or fees. Please contact us at 845.602.4242 extension 104 or click here for assistance.

Furlough Loan
If you are a Federal civilian employee (active or retired) or a Federal Contractor who will not be receiving a paycheck or retirement check as a result of the Federal government shutdown, you may be able to take advantage of our short-term, reduced rate Furlough Loan. Click here to apply and select “Furlough Loan” when asked “How did you hear about us?”

To be considered for a Furlough Loan, the following criteria must be met:

  • You must be a member of Palisades Credit Union.  If you are not currently a member and wish to apply for membership, click here
  • You must be an employee, retiree, or federal contractor for the Federal government who will not be receiving a paycheck or retirement check as a result of the Federal government shutdown.
  • Pay stub and Furlough notice must be provided as proof of employment.

Furlough Loan features:

  • Loan amount available up to the equivalent of one month’s net pay.
  • 60-day delay before your first payment will be due.
  • 6, 12, 24 or 36 month repayment terms.
  • Interest rates starting as low as 2.5% APR.*

Skip-a-Pay
Have an existing loan with Palisades? You may also qualify to take advantage of Skip-a-Pay on your loan. This option is available on auto and personal loans. Note: Interest will continue to accrue on your account. Please contact us at 845.602.4242 extension 104 or click here for assistance. If you have another loan type with Palisades and are concerned about making your payment, contact us, we may be able to help!

 

 

*APR=Annual Percentage Rate. Rates and credit approval are subject to Lender’s credit criteria, certain conditions and restrictions may apply. Your actual APR may vary. Not eligible for Advantage Pricing discount. 

 

 

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