Jul 31, 2008 10:46 am US/Pacific
Financial Help For State Workers
The state Department of Personnel Administration is expected to have updates on their website to help state workers through the pay cuts.
dpa.ca.govSome financial institutions are preparing to offer zero interest or low interest loans to state workers to make up the difference in lost pay. State workers should contact their banks to see what they offer. Below are a few banks that have said they will offer loans to state employees who have accounts at their branches.
- Golden 1 Credit Union is offering zero interest loans or low interest loans to state workers. But you had to have an account with them before June 30. Members who had direct deposit before June 30 are eligible for 0% interest loans. Members who added direct deposit after June 30th are eligible for low interest loans of 4.9%.
- Schools Financial Credit Union offers zero-interest, short-term loans and extensions of loan payments for new and existing Schools members who are not receiving their regular paychecks due to the budget impasse. Members with direct deposit will receive 100% of their pay. For details, visit a Schools branch or contact us at 916-569-5400 (Sacramento area) or 800-962-0990.
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