Bank Offers Free Loans To Furloughed Workers
Federal employees may be back on the payroll as early as today, at least temporarily.
But if Congress and President Clinton reach another impasse over a balanced budget, a Spokane-based bank said it will offer no-cost loans to federal workers.
Washington Trust Bank announced Friday it would loan federal workers in Washington and North Idaho as much as a month’s net pay if they are either furloughed or receiving smaller paychecks. The loans would be interest-free, with no fees for processing.
Walker Collins, the bank’s executive vice president and chief financial officer, said the program will remain in place through Sept. 1 or until the budget dispute is settled.
“We are making no judgments concerning the politics involved in the budget impasse, recognizing that both parties have legitimate points to make in a messy but probably necessary public debate,” Collins said.
Federal workers in both states can receive information about the program by calling (509) 353-2265, or 1-800-788-4578. The lines will be open 24 hours a day.
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