At WECU, we’re here to provide steady support and guidance through uncertain times. The partial government shutdown may affect federal employees, contractors, and their families, including some of our members. Shutdowns happen when Congress doesn’t pass funding legislation, though most essential services, like Social Security and federal law enforcement, continue as usual.

What resources are available for affected WECU members?

Member Support Resources

  • Skip-a-Pay: Members can skip a loan payment twice per year (excluding mortgages) and WECU will waive the $15 fee for any member affected by the shutdown.
  • Accounts Control Loan Extensions: we will offer up to two loan extensions (mortgages not included) for members affected by the shutdown. This would be in addition to any previous unrelated extensions (or skip-a-pays).
  • Consumer Loan Programs: WECU is ready to support members affected by the shutdown with consumer loans.
  • Real Estate Forbearance: The Real Estate team will work with any impacted member, which would include a mortgage forbearance if the borrower qualified.

Furlough Loan Programs
To provide additional short-term relief, WECU is offering two special loan options for impacted members:

  • 6% APR Loan
    • 48-month personal loan at 6% APR
    • Loan amounts up to 2× monthly pay (maximum $7,500)
    • Subject to underwriting
    • Apply Now
  • 0% APR Loan
    • 90-day personal loan at 0.00% APR
    • One lump-sum payment due at the end of the term
    • Loan amounts up to 1× monthly pay (maximum $6,000)
    • Subject to underwriting
    • Apply Now
  • Flexibility:
    •  We encourage members to contact us to explore personalized support options.

FAQs

How will the government shutdown impact WECU’s operations?

Credit unions remain stable and operational during a government shutdown. We are member-owned, not-for-profit institutions that prioritize your financial well-being. Our services and support systems will continue uninterrupted.

Are my funds at risk during a government shutdown?

No, your funds are safe and federally insured by the National Credit Union Administration (NCUA) up to $250,000 per individual depositor, just like FDIC insurance for banks.

If the government can’t fund itself, what happens to the NCUA insurance?

The National Credit Union Share Insurance Fund (NCUSIF) is fully funded and independent of the federal budget process. This means that your deposits remain insured and protected, regardless of a government shutdown.

Learn more about government shutdowns and what is affected here.