Hey, there! Log in / Register

Boston-area credit unions and one bank offering interest-free loans to federal workers hit by Trump shutdown

Ad:

Comments

What do these credit unions and banks offer the average person who loses their job?

up
Voting closed 18

...and payday loan storefronts ???

up
Voting closed 6

A much better alternative than the big retail banks that ask that you pay them for the privilege of holding and making income off your cash.

Everyone should be looking to use a credit union or small local bank IMO. Mine pays me interest and a special dividend for using their services, like the good old days. It even covers ATM withdrawl fees out of network and has online banking.

up
Voting closed 14

I literally get hundreds of dollars back from BOA just for using a credit card and paying on time. It is probably into the thousands right now.

up
Voting closed 6

that's available without using them for anything else. I have a couple of credit cards through major banks for the rewards, and everything else via my local credit union - it's the best of both worlds (well, up until you have any issue with your credit card and have to call the big bank's customer service, in which case you remember why you switched to the credit union for everything else...)

up
Voting closed 9

Can collect unemployment or find another job. (And aren't being forced to work without pay!!)

Duh?

up
Voting closed 28

Yeah, unemployment was available. But these folks have jobs to go back to, and will receive back pay.

I don't remember anyone offering any assistance back in the dark days of 08-10. No free bowling or BSO concerts, no interest free loans, etc.

But I do remember lots of help wanted ads that specifically stated: "if you're out of work for over six months, don't bother applying." And nobody batted an eye about that back then.

I made it through, even though I had committed the unpardonable sin of aging out. How? Because I knew it could happen, and lived beneath my means so I had a cushion.

This wasn't the first government shutdown, so these folks knew that this could happen, and didn't prepare for it. Duh?

up
Voting closed 6

Still different and actually you could still get some pretty good loan rates on housing and other things during this time. Everyone was effected, and yea, you could still look for another job if you got laid off, and you could collect unemployment, etc, etc.

I'm not crying a river here, but these guys simply aren't getting paid for work they are doing. Some prepared, some didn't . Some people offered to help, some people did not.

up
Voting closed 5

which banks give "pretty good loan rates on housing and other things," when your income is from unemployment? Banks were offering mortgages back then to the unemployed? Seriously? I asked my credit union (member for 10+ years/750 credit score with a 800+ credit score co-signer) for a $3K loan for six months so I wouldn't have to hit my IRA to cover a $6K emergency medical procedure. They told me to pound sand.

With the exception of contractors, they will get paid retroactively (even if they didn't have to work), and they will still have their jobs.

up
Voting closed 3

Everyone has a story. This one is about people who had to work without any income for a few weeks and they couldn't look for other jobs and they couldn't collect unemployment. You have one about a medical procedure you couldn't afford. You lost your job, that sucks and unemployment was high then.

Try getting a FHA loan now with 2% down and a PMI around .03%. You can't with or without a job. You could in 2008. Much better than a TSA worker getting a free sandwich from Tom's deli on Main St.

Don't overthink this. The original poster wasn't even talking about 2008 for crying out loud.

up
Voting closed 4

That is welcome news. I was hoping one of the funded government agency's or maybe STILL BEING PAID WORTHLESS pols could, you know, chip in and start a fund to help those less fortunate.

An interest free loan to hold people over seems like a great idea.

up
Voting closed 4

Trump caved.

up
Voting closed 6

Than it's Government Shutdown 2.0

Congress and all presidents have a well established history of not agreeing on budgets.

up
Voting closed 3

We’ll see.

up
Voting closed 3

It is just too bad that a whole generation seems to have missed getting a proper civics education that covered that whole "limitations on executive power" and "checks and balances thing".

Not your fault that your schools failed you, but you really should consider a community college course.

up
Voting closed 12

Liz Warren says we have two equal branches of government. Civics lessons all around.

up
Voting closed 5

it is not working. Even when turbocharged with hatred, sexism, and racism.

up
Voting closed 11

Put up or shut up, bigot.

up
Voting closed 3

It’s nice of the bank to help those hit by the Pelosi/Schumer Shutdown. Why were the democrats refusing to pay the hard working men and women of the Coast Guard? The democrats put the fork in that proposal, which had nothing to do with immigration, a wall, etc.?

https://www.youtube.com/watch?v=HYKCQQbX3Js

up
Voting closed 10

Schumer? Honey, Mitch McConnell was the one obstructing the vote. That's because Schumer is the minority leader.

See above: Community College Course in Civics needed

up
Voting closed 12

You are gullible, too. Ignorance can be fixed ...

Want to buy some Amway or lottery tickets with that?

up
Voting closed 10

Get a bigger MAGA hat, Carmella, that one's obviously on too tight. That's what you get when you buy cheap Made-in-China products to line a con man's pocket: less money and a headache. We call that an "own goal" and you types keep making 'em.

up
Voting closed 4