Biloxi-based Keesler Federal Credit Union is looking to help federal employees be compensated for their work during the ongoing government shutdown.
The financial institution’s board of directors announced a paycheck relief program on Wednesday aimed at advancing the amount of direct deposit paychecks for all eligible federal employees affected by the shutdown. Advancing the amount of a direct deposit paycheck is when one is granted access to his or her earnings before an official payday, meaning federal workers at risk of not being paid as Congress works to pass a bill to fund the government can be made whole for the time being.
There is no charge or fee for eligible members to participate, per Keesler officials. Members are merely required to sign up for the program on the Keesler Federal website. Once enrolled, a member will be eligible for ongoing payroll deposits up to a maximum of 90 days.
“Our members are at the heart of what we do,” Keesler Board Chairman James Hollingsworth said. “The government shutdown has created stress and financial instability for thousands of our members, so we wanted to stand up for our members in a way that will give them peace of mind.”
To be eligible for paycheck assistance, the member must be a federal government employee whose direct deposit was processed into an active Keesler Federal account for the last three pay cycles. The offer is also available for members at Jefferson Financial Federal Credit Union, which is merging with Keesler Federal. Once the shutdown is concluded and the member receives back pay, the financial institution will automatically debit the advanced payroll from the user’s account.
As of Thursday, the stalemate continued in the nation’s capital with no end in sight. The U.S. House of Representatives-passed Republican bill to fund the government failed in the Senate, marking the chamber’s seventh consecutive unsuccessful attempt at passing the legislation. The shutdown has lasted for nine days.
