GOVERNMENT SHUTDOWN
Affected by the government shutdown? PBA FCU can help.
We know how important your paycheck is, and how distressing it can be when it suddenly isn’t there. PBA Federal Credit Union is here to help people who have been personally impacted by the federal government shutdown.
PBA Federal Credit Union offers services to help our members during a crisis:
What we are providing
Skip A Pay:
Need a little extra cash? Try a Skip A Payment on your PBA FCU loan! And, if you have more than one loan, you can Skip A Payment on each! This may be just what you need to help. If you are directly affected by the shutdown, we will waive the fee.
Share Secured Loans:
Protect your savings while accessing essential funds. Our Share Secured Loans allow you to use your savings as collateral, ensuring financial stability during a government shutdown. Get the support you need without depleting your savings.
(Must bring in furlough letter)
Save Time
Earn More
Grow Faster
Friendly Support
Plan for Managing Reduced Income:
1. Assess the Situation
· Calculate new monthly income.
· List all sources of income (salary, benefits, side jobs).
· Identify the reason for the reduction (temporary or permanent).
2. Review and Prioritize Expenses
· List all monthly expenses (fixed and variable).
· Categorize expenses as essential (housing, utilities, food, insurance) and non-essential (subscriptions, dining out, entertainment).
· Prioritize essential expenses.
3. Adjust Your Budget
· Create a revised budget based on new income.
· Eliminate or reduce non-essential spending.
· Look for ways to save on essentials (shop sales, use coupons, reduce utility usage).
4. Communicate with Creditors and Service Providers
· Contact lenders, landlords, and utility companies to explain the situation.
· Request payment plans, deferments, or hardship programs if needed.
5. Seek Additional Income
· Explore part-time or freelance work.
· Sell unused items online.
· Consider gig economy opportunities (rideshare, delivery, tutoring).
6. Access Support and Resources
· Research government assistance programs (unemployment benefits, food assistance).
· Reach out to local charities or community organizations for help with essentials.
7. Protect Your Credit
· Make minimum payments on debts if possible.
· Monitor credit reports for errors or missed payments.
8. Reevaluate Financial Goals
· Pause or reduce contributions to savings or investments if necessary.
· Adjust timelines for major purchases or financial milestones.
9. Monitor and Adjust Regularly
· Review budget and spending weekly or monthly.
· Adjust as income or expenses change.
10. Plan for the Future
· Build an emergency fund when possible.
· Consider insurance options to protect against future income loss.
· Update resume and skills to improve job security and opportunities.
The easy way to start
