Dear Valued Members,

With federal employees being furloughed due to the recent government shutdown, FreeStar Financial Credit Union is prepared to assist members who have been adversely affected by this hardship. As a Credit Union founded by the military, and with our continued commitment to the community, we would like to offer financial support to loyal members who have been directly affected.

The Credit Union is offering members several options:

  • A Skip-a-Pay is available for up to 3 months on existing consumer installment loans and select revolving credit lines. Allowing a skipped payment during this period can provide you peace of mind that you will be able to meet your monthly commitments. There is a $30 fee per loan per month, and furlough paperwork is required. Skip-a-Pay exclusions include Mortgages, Home Equity Loans, Courtesy Pay Loans, and Visa.
  • A Special Assistance Signature Loan is offered to replace lost salary. This 12-month loan offers a special low-interest rate of 5.49% APR*. You may apply for one month of your net direct deposit payroll up to $10,000. Your first payment won’t be due until 90 days. Members in good standing with six months of direct deposit history with the Credit Union automatically qualify for the Special Assistance Signature Loan. A furlough letter is needed.
  • A standard Signature Loan is available for federal employees who do not have a 6-month direct deposit history with the Credit Union. Your first payment won’t be due until 90 days after your loan approval. Standard rates and terms apply. Members must provide last paycheck and the furlough letter.

We hope one of these options may provide you some assistance during this uncertain time. If you have been impacted by the shutdown, please contact the Credit Union for additional support at 586-466-7800 opt. 3 or visit your nearest branch. We thank you for your service to our country and the community and look forward to helping you meet your financial needs.


Drema D. Isaac
President & CEO


*APR=Annual Percentage Rate. Payment example: A loan of $5,000.00 at 5.49% APR for 12 months would have a monthly payment of $432. Members must have a checking account with direct deposit to qualify for the promotional rate. Promotional rate is subject to change at any time without notice. Equal opportunity lender.


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