Earlier this year, Hanscom FCU put the credit union philosophy of “People Helping People” into action by offering our LifeLine loan program to furloughed federal workers. We helped hundreds who were going without pay during the longest government shutdown in history.
Hanscom FCU offered a LifeLine loan, a 60-day term loan with a 0% Annual Percentage Rate, waived penalties for premature withdrawals on term share certificates, and allowed qualified members to skip consumer loan payments with no fees. We contacted our legislators and let them know that not only could we offer financial help, but we also offer free financial programs and counseling to our members.
It was heartening to see that many other credit unions around the U.S. as well stepped up to the plate with relief programs designed to aid members and their families during their time of financial need with programs similar to those of Hanscom FCU. Though it was a difficult time for our country and for the approximately 800,000 federal workers who went without pay for 35 days, I’m proud of how fellow credit unions stepped up to offer some relief for those who were put in a financial bind not of their making. This is a tremendous example of the credit union philosophy in action.
As I look forward to our Annual Meeting on Saturday, May 4, 2019, it’s my sincerest hope that members like you will be there, to hear not only what your credit union has accomplished over the last year, but to share in our plans for the future. We are people helping each other, and it will be my honor to thank you in person for making possible the success of Hanscom Federal Credit Union.
Chairman of the Board
To learn more about the credit union and the values we stand for, download our Statement of Commitment to Members and Society.