North Island Credit Union’s Relief Programs for Members Affected by Federal Shutdown

North Island Credit Union Provides Essential Relief to Affected Members

In a significant move to support its members during a challenging time, North Island Credit Union has introduced a series of special relief programs aimed at aiding those impacted by the ongoing federal government shutdown. This initiative is primarily designed for members who are experiencing difficulties due to interruptions in their paychecks, especially among federal employees.

The credit union's President and CEO, Steve O'Connell, emphasized the organization's commitment to its members. “We understand the difficulties our members may face if they don't receive their paychecks and we're here to help. North Island Credit Union members can rest assured we will work alongside them with a variety of special assistance programs to help alleviate some of the financial stress this government shutdown may cause,” O'Connell stated.

Relief Programs Overview

The relief programs include several options that provide immediate financial assistance:
1. Loan Payment Assistance: Members are allowed to skip a payment on their Consumer Auto Loan and/or Signature Plus Loan without incurring any fees. This measure can help ease the burden of financial strain for those unable to make regular payments due to temporary loss of income.
2. Penalty-Free Certificate Withdrawals: For members with certificate accounts, early withdrawals can be made without any fees or penalties. This flexibility allows them to access their funds without the usual financial repercussions during this difficult period.
3. Reduced Rate Signature Loans: Members can apply for a signature loan at a rate that is 4.00% lower than the current lowest rate offered by the credit union. These loans can provide much-needed liquidity, allowing members to borrow up to two times their most recent net paycheck, with a maximum limit of $3,000.

These programs are tailored to not only alleviate financial pressure during the shutdown but also to foster a sense of community and support among members. The credit union has encouraged anyone affected to reach out for assistance and guidance tailored to their individual financial situations.

Accessible Support

North Island Credit Union facilitates easy access to these relief options. Members can contact them directly at 800.334.8788, visit their local branch, or access the credit union's official website to gather more information about the programs available to them. The organization aims to ensure that no member feels left behind during these financially challenging times.

About North Island Credit Union

North Island Credit Union, operating as a division of California Credit Union, was established in 1933 and boasts approximately 200,000 members and assets totaling $5 billion. Recognized as a Forbes Best-In-State Credit Union for 2024-2025, the organization extends its services across several counties in California, including prominent ones like Los Angeles, San Diego, and Ventura. The credit union is dedicated to offering inclusive financial products and services aimed at fostering financial stability in underserved communities, which is evidenced by their certification as a Community Development Financial Institution (CDFI).

For more information about their various financial products, including checking and loan options, personalized financial planning, and business banking services, members and interested parties can visit northisland.ccu.com, or follow North Island Credit Union on social media platforms like Instagram and Facebook @northislandcu.

As the government shutdown continues, North Island Credit Union stands firmly by its members, ensuring they have access to necessary financial support and resources to navigate this tough period effectively.