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VERIFY: Navy Federal Credit Union providing funding to furloughed members during shutdown?

There has been no shortage of rumors during the partial government shutdown... and now a new meme is making the rounds, promising financial help for furloughed workers.

A lot of fake stuff circulates online but that's where our Verify team comes in to help separate fact from fiction and get you truth. Like a viral post a viewer came across on Facebook and sent to the Verify unit for answers. 

The post claims Navy Federal members who are furloughed due to the shutdown will be payed in $500 increments to match members pay by the Navy Federal Credit Union. 

Credit: Facebook post

Verify researchers went straight to a Navy Federal Credit Union spokesperson who said the credit union does have a government Shutdown Loan Program in place that offers at 0 percent APR loan for affected members who already direct deposit with them including federal employees and active duty coast guard members.

Credit: Navy Federal Credit Union Facebook

There's also no interest charges with the loans and once direct deposit resumes the amount credited to your account will be deducted as repayment. 

But not everything in this in this PSA post is correct.

The spokesperson clarified that the pay scale is in $500 increments after the first $500. So it initially goes $250 then $500 then $1,000.

Also incorrect about this claim is that contacting Navy Federal three days prior before each pay period, instead members should Members have until three business days after missed pay to register for the program to received funds.0

Currently, this program offer advances on direct deposit for the first two paychecks for the first two paychecks during the partial shutdown so last week, next week and two weeks from now but if the shutdown continue beyond that, Navy Federal will monitor the situation and may reconsider extending it. 

We can verify Navy Federal Credit Union is providing pay assistance for furloughed members but under certain guidelines, not all accurate in this post. 

Navy Federal Credit Union Senior Vice President of Debit Cards and Fund Services, Tynika Wilson said, 

"As this shutdown has progressed and as members have started to miss their paychecks, we have seen a rapid increase in awareness and enrollment in our government shutdown assistance program..to date, a total of shy of 14,000 members have enrolled, nearly 12,000 of which received funds on Monday. For those who have not yet enrolled, you have until three business days after your affected paycheck to register."

For further information about this program, click here

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