0.00% APR* Furlough Loan
We have your back with 0.00% APR* Annual Percentage Rate loan options and more.
If the federal government shutdown is causing you significant economic hardship, Harborstone Credit Union is here with solutions as you stabilize your finances.
Available now for furloughed federal government employees with at least six months of tenure, we’re offering a new signature furlough loan or modification on a current signature or auto loan with 0.00% APR* for six months and no payments for six months.
Get in touch with us today.
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Furlough Loan Options
New Signature Loan
- Borrow up to $7,000.
- Get 0.00% APR* for the first six months.
- Make no payments for six months.
- Get 9.99% APR* after the first six months for a 24-month term.
Existing Signature or Auto Loan Modifications
- Get 0.00% APR* for six months.
- Make no payments for six months.
- After six months, the rate and monthly payment amount return to the terms and conditions reflected in the original loan contract with a six-month extension of terms
Furlough Loan Qualifications
Requirements for New Signature Loans and Existing Loan Modifications
- Monthly payments are required after the first six months until you have paid the balance in full.
- New members must open a Harborstone checking account.
- Existing members must have or open a Harborstone checking account.
- Individuals are required to have had federal government employment for at least six months.
- Proof of furlough is required from the employer.
Other Options
Harborstone team members are standing by to support you through these uncertain times. Our certified financial coaches are available as you navigate the financial landscape of a furlough. Our experts can provide knowledge and problem-solving and can offer products and services tailored to your needs and goals. Below are a few other solutions that may be available to you. Contact us to learn more.
Skip a Payment
- Free up cash for emergency expenses.
- Skip one month on your auto loan.
- Learn more about this program to see whether you’re eligible.
Rate Reset Program
- Refinance a current loan to get up to $2,500 for emergency funds.
- Choose the amount and term (based on your situation).
- Note that terms and conditions apply.
- Speak with a Harborstone team member to learn whether you qualify.
Frequently Asked Questions
Our furlough loan is available to any federal government employee with at least six months tenure who has been furloughed. This excludes those who were terminated from their federal government employment. However, we may have other solutions to fit your needs. Please reach out using the contact methods below, and a team member can speak with you about available options.
Call Us | Find a Branch Near You | Schedule an Appointment
This furlough loan is only available to those furloughed who have been employed by the federal government for at least six months. Harborstone is here to support you. Please reach out with the contact methods provided below to speak with a team member about your available options.
You may be eligible for a new furlough signature loan, a modification on a current signature or auto loan, or other programs and products we have available. Our expert team members are available to help you create a plan that supports your specific needs. Call us, chat with us, or visit us in a branch for support. Our contact information is listed below.
No, you may choose to pay off the loan before the six-month introductory period, and you will not accrue interest or face early payoff fees. We’re here to support our federal government employees during this uncertain time.
Please reference the Other Options section above to learn more about some of the programs we have available. Also, feel free to speak with our financial experts at a branch near you, or give us a call to problem-solve how to financially navigate the furlough. We’re here to help!
Yes, you may apply for this furlough loan. You may qualify based on your situation. Our expert team members are available to help you create a plan that supports your specific needs. Call us, chat with us, or visit us in a branch for support. Our contact information is listed below.
This program is being offered only during the federal government shutdown. Our expert team members are available to help you create a plan that supports your specific needs. Call us, chat with us, or visit us in a branch for support. Our contact information is listed below.
To see how we can help speak with a Harborstone team member to learn more about your options. Our expert team members are available to help you create a plan that supports your specific needs. Call us, chat with us, or visit us in a branch for support. Our contact information is listed below.
You would have received a letter of furlough. If you’re unsure, you may want to reach out to your supervisor for more information.
Reach out to us. We’re here for you.
APR* = annual percentage rate. Must have been a federal government employee for at least six months. Proof of furlough is required from the employer. All loans and collateral are subject to Harborstone Credit Union lending guidelines and credit approval. Rates and terms are subject to change at any time. Standard underwriting requirements apply. Maximum available loan terms are 24 months. For example, a $7,000 signature loan with a 9.99% APR would require 24 monthly payments of $323. Offer may not be combined with other Harborstone offers, and Harborstone may choose to end the offer at any time. Second mortgages, first mortgages, Visa® credit cards, personal lines of credit, home equity lines of credit, short-term loans, and business loans are excluded. Harborstone membership is required. New membership must include a savings account with a minimum of $5 opening deposit and a Harborstone checking account. Existing members must have or open a Harborstone checking account. Insured by NCUA.