cPort Credit Union is offering shutdown loans to federal employees impacted by the government shutdown. Federal employees can apply to borrow up to one month’s income with two options for repayment. cPort will waive members’ interest if they choose to repay their loans within 30 days of the government re-opening. Members can also choose repay the loan over 12 months at 2.99% annual percentage rate. Affected members also have the option of skipping a month’s payment on a cPort loan.
Formerly the Federal Employees Credit Union of Maine, cPort’s core membership includes federal employees and active duty members of the military. “We want to support our members during this time of uncertainty,” says cPort’s President and CEO Gene Ardito. “We hope that with these options, we can help our members and their families through what can be a very challenging situation.”
Proof of federal employment is required to apply for shutdown assistance. Applications are subject to underwriting review. Federal employees who open new memberships at cPort are eligible for assistance. To apply, members can call 1-800-464-0253 or stop into one of our branches.