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JOHN VALLEY / ASHLAND / BANGOR, Maine (Jan. 16, 2019) – “People Helping People”—It’s a philosophy Maine’s credit unions live by, all year long. Acadia Federal Credit Union wanted a way to offer assistance to Maine’s furloughed workers, in light of the U.S. Government shutdown that has halted steady income for nearly 800,000 people across the country.

Acadia FCU is offering a simple option to Maine’s federally-employed workers who are facing financial hardships during the shutdown, via a newly-developed ‘shutdown loan’ designed specifically for those affected by temporary loss of income.

With proof of government employment, applicants are eligible for a special loan which boasts a 0% annual percentage rate for the first 90 days and a 4.99% APR for the remainder of the term. A maximum of $5,000 can be borrowed with up to a 12-month term.

“As a strong community supporter with a deep commitment to our members and government employees, Acadia was motivated to find a way to offer assistance during this time of financial distress,” said Michele Martin, Acadia FCU’s VP of Lending. “The management team got together to create an attractive loan type that could help furloughed workers out of this tough time. We’re happy to offer this zero-to-low interest, short-term loan.”

Acadia FCU is also willing to work with existing federally-employed loan members to defer payments during this time.

Existing members or non-members who meet membership eligibility may apply for a shutdown loan online at https://www.acadiafcu.org/loans/personal-loans/ or call 1-855-692-2234 and speak with any loan officer. Membership eligibility is defined by geography, so those who live, work, worship, or attend school in either Aroostook, Piscataquis, or Penobscot County are eligible to apply.

Acadia FCU encourages all who are experiencing loss of income to contact any of our branches for financial assistance or guidance in working through the government shutdown.

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