The New Jersey-based TD Bank and Maine’s credit unions announced this week that they will offer special loans to furloughed state government employees or people receiving welfare benefits through Sept. 1, or until the shutdown ends.
“We recognize the hardship that a government shutdown can cause for state employees and those who rely on government assistance,” Dave Glidden, the bank’s regional president, said in a news release.
TD Bank said it would also refund overdrafts and late fees on most of its bank credit cards. Credit card customers should call the number on the back of the card for assistance, it said. The bank also said it would offer loans to customers who have trouble making mortgage, home equity loan or personal loan payments.
The Maine Credit Union League announced earlier this week that it would offer loans to those affected and some of the state’s 58 credit unions would reduce fees.
“The impact would be felt statewide so it is great that many of the state’s credit unions, from Madawaska to York and everywhere in between are offering some sort of program to assist state workers,” Todd Mason, president of the Maine Credit Union League, said in a prepared statement.
When the Legislature missed its midnight deadline to approve a budget Friday, it triggered a LePage emergency order giving him wide authority over 12,000 state employees. Those deemed to provide “emergency” services can be forced to work without pay and would be paid when a budget deal is reached.