Travis Credit Union has announced a plan to help its members who are facing lost pay due to furloughs because of federal sequestration.
The credit union will lower loan payments and extend the terms of loans for civilian personnel affected by cuts in defense spending that took effect March 1. Beginning April 22 and extending through Sept. 20, civilian employees could lose up to 20 percent of their income due to 16 hours of furlough that will take place every two-week pay period.
Travis Credit Union recognizes the difficulty that sequestration will have on its affected members and stands ready to help lessen the potentially significant financial effects of the furloughs, said Patsy Van Ouwerkerk, president and CEO of the credit union.
“We are here for our members and are doing everything we can to support them during these challenging economic times,” Van Ouwerkerk said in a news release. “Members are encouraged to visit any of our branches so that we can work with them to address any financial difficulties that these furloughs and loss of income may create.”
Travis Credit Union, with more than 178,000 members, is the 11th largest credit union in California. It has a Davis branch at 1380 E. Covell Blvd., in the Oak Tree Plaza shopping center.
For more information, visit https://traviscu.org.