Federal government shuts down without funding agreement

The federal government officially shut down at midnight Eastern today, as Congress was unable to come to an agreement on funding legislation. With thousands of members affected by a shutdown, credit unions will continue their member-first mission to help ease financial difficulties.

"America's Credit Unions supports stability of our federal government, and we urge Congress to quickly come to a resolution to restore functions as soon as possible. With the added potential for permanent job losses as a result of this shutdown, we are closely monitoring how it will impact credit unions, their 144 million members, and the communities they serve," said Jim Nussle, America's Credit Unions president/CEO. "While this is not the outcome we were hoping for, credit unions have been preparing to support members affected by the shutdown. Credit unions will do whatever they can to help people through this financial uncertainty just as they always have."

America’s Credit Unions has a Government Shutdown Assistance webpage with resources and will continue to engage with Congress on getting funding restored.

Credit union deposits remain insured and the NCUA is open as an independent agency, but there are other affected areas of the federal government that impact credit unions. These include:

• Servicemember and federal employee credit union members will not be paid with the government closed, and credit unions are working to assist members who need short-term loans, loans with special terms and rates, or payment flexibility.
• National Flood Insurance Program (NFIP) funding also expired at midnight Eastern, so the Federal Emergency Management Agency (FEMA) is not able to issue flood insurance. FEMA still has authority to ensure the payment of valid claims with available funds.
• Credit unions that have branches in government buildings or on federal property may experience service interruptions due to changes in hours and/or branch access.

Credit unions are encouraged to share their stories of helping members impacted by the shutdown using the survey on America’s Credit Unions’ shutdown assistance page. Information provided will inform current and future advocacy efforts by demonstrating how credit unions support members and communities affected by the shutdown.