Guam – In response to the recent Department of Defense announcement of civilian employee furloughs, Coast360 Federal Credit Union has developed a program specifically for their members who are affected, in efforts to alleviate financial distress.
Coast360 members who will be directly affected by the furloughs are encouraged to visit the Maite Member Center to speak with a Financial Support Representative about options the credit union offers. Members may also call 477-0124 for more information.
“As it’s always been, our members are top-of-mind. When things like this happen, we want to make sure we’re doing our part to ensure our members’ financial well-being,” says Richard Northey, the credit union’s CEO.
Due to federal budgetary limitations, the Secretary of Defense, Chuck Hagel, has finalized the plan to implement a furlough of department civilian employees effective July 8, 2013 through the remainder of the fiscal year. An estimated 2,000 Guam DOD employees will be affected by a 20% reduction in compensation per pay period, significantly affecting their ability to meet financial obligations.