During the government shutdown last month, the longest shutdown in US history, Phi Beta Sigma’s Federal Credit Union stepped in to help their own by offering loans of up to $2,500 to members of Phi Beta Sigma and Zeta Phi Beta who were federal employees that were not receiving pay.
According to the Sigmas, “This Program is in response to the unfortunate impact of the partial US Government Shutdown, and is intended to provide some stop-gap assistance until the US Government (Federal) employee, who has been furloughed or required to work without pay, begins receiving his/her paycheck again.”
To have been eligible, had to be able to establish that they were a furloughed Federal employee or working without pay due to the Shutdown, by submitting notice from the Government.
This type of assistance shows the power of Black banks and credit unions to look out for the people they represent.
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