Michael Moran, President of USAA Federal Savings Bank | Official Website
USAA is preparing to offer financial assistance to its members who may be affected by a potential government shutdown on October 1. The organization plans to provide no-interest loans and payment relief options to eligible members. Members employed by impacted federal agencies who have received an eligible direct deposit into a USAA account within 30 days before the shutdown can apply for a loan equal to one net paycheck, up to $6,000.
Michael Moran, President of USAA Federal Savings Bank, said, "We have an unwavering commitment to ensure the financial security of our members and this program is part of that value that we deliver every day." He emphasized that USAA aims to support its members through unexpected situations with services like these.
USAA will inform members when loan applications and financial assistance programs become available if a government shutdown seems likely. Applications can be submitted via the USAA app, website, or phone. More details about the assistance related to a potential government shutdown can be found at usaa.com/relief.
Founded in 1922 by military officers, USAA serves 14 million U.S. military members, veterans, and their families with insurance, banking, and retirement solutions. Headquartered in San Antonio, it operates in eight U.S. cities and three overseas locations with over 38,000 employees globally.
Information from this article can be found here.
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