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Furlough Line of Credit

Furlough Line of Credit 

A line of credit for members impacted by the government shutdown.

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To qualify, you must:

  • Be an AgFed member 
  • Be a Federal Government employee impacted by the government shutdown.
  • Have an existing biweekly direct deposit of at least $400

Furlough Line of Credit:

  • 0% APR* for 60 days from the loan origination date
  • Loan amount not to exceed one bi-weekly direct deposit amount up to a maximum loan amount of $6,000
  • Line of Credit limit will be withdrawn once the shutdown ends or after 60 days from the loan origination date, whichever comes first
  • The first payment is due within 60 days from the loan origination date
  • If the Line of Credit is not paid in full within 60 days, the balance will be amortized over 6 months at 6.49% APR.
  • An automatic transfer should be created for bi-weekly payments for 6 months at 6.49%.

 

Terms and Conditions

*APR is Annual Percentage Rate