HONOLULU – The Hawaii State Federal Credit Union launched a financial assistance program for members affected by federal budget cuts and furloughs called the “Furlough Buster.”
“We’re here to help our members affected by the federal shut down and furloughs,” said Andrew Rosen, president of Hawaii State FCU. “We encourage members to ask for help as they face this uncertainty and to understand the financial options that are available.”
The Furlough Buster program offers four new services.
‘Penalty-Free Term Share Withdrawals’ are available to eligible Hawaii State FCU members subject to sequestration budget cuts. Members are allowed to make withdrawals from their term share account (certificate of deposit) after the first six days of the account term without early withdrawal penalties.
Deferment of loan payments is available, including vehicle, personal, share-secured and term share-secured loans, to provide relief from scheduled monthly payments. Loans may be deferred for one to three months.
Hawaii State FCU is offering free 30-minute financial checkups for members to improve their financial health. The comprehensive checkup includes a review of credit, refinancing high interest rate loans, lowering interest on credit cards and consolidation of debt options. High-yield savings and interest-bearing checking accounts are also available.
Designed to provide members with comprehensive and professional assistance, the ‘BALANCE Financial Fitness Program’ offers personal finance advice in money management, debt management, credit report review and housing education. InfoLine provides immediate access to a financial counselor that can answer financial and credit related questions and send members supplementary materials on their area of interest. InfoLine counselors are available by phone Monday through Thursday, 5 a.m. to 5 p.m., Friday, 5 a.m. to 2 p.m., and Saturday, 5 a.m. to 2 p.m. at (888) 456-2227.
For more details on the Furlough Buster program, call Hawaii State FCU’s member service call center at (808) 587-2700 or visit any branch location.
Hawaii State Federal Credit Union (Hawaii State FCU) was founded in 1936. Serving state, city and county employees and their families across the state, Hawaii State FCU has more than 77,000 members and holds more than $1.3 billion in assets. Hawaii State FCU provides financial advising, checking, savings and loan services at seven branches throughout Oahu and one in Kahului, Maui. For more information, please visit www.hsfcu.com.
[…] During the 2009-2010 state employee furlough, the Hawaii State Federal Credit Union provided a special rate for those members affected by the furlough to borrow up to $5,000. The credit union continues to offer this assistance to members affected by federal budget cuts and furloughs. […]
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