01/14/2019: Oregon Pacific Bank Offers Assistance to Furloughed Employees
Oregon Pacific Bank Offers Assistance to Furloughed Employees
Oregon Pacific Bank has announced its commitment to assist local community members who are affected by the current government shut down. In response to the furlough of federal government employees, the Bank has created a special loan program to help with cash flow needs.
The Bank has announced a Restricted Line of Credit for furloughed federal employees who are not receiving a regular paycheck. Current federal government employees can stop by their local Oregon Pacific Bank branch and apply for a special line of credit that will allow for monthly advances equal to their net take home pay, up to a maximum of $10,000 total for six months.
This special program is offered with no fees at a 0% interest rate for six months after the loan is funded. No monthly payment is due until the loan reaches maturity after six months, or upon receipt of retro-active income repayment. Applicants must have a current deposit account at Oregon Pacific Bank or be willing to open one in order to take advantage of this program.
The Bank is also offering up to 6 months payment deferrals for existing consumer loan clients. More specific details on the financial assistance that Oregon Pacific Bank is currently offering can be found here: Federal Government Employee Financial Assistance
“We are deeply committed to the communities we serve and are proud to be able to offer some assistance in this time of need,” says Ron Green, President and CEO of Oregon Pacific Bank.
“We are very understanding of the difficulties that many of our community members are facing. We openly and honestly say to you, please contact us if you are experiencing financial hardship or cash flow disruption as a result of the extended government shut down, and we will work directly with you to do all that we can to help.”
Oregon Pacific Bank asks interested parties to visit their local branch for more information, or call (800) 997-7121.