Sacramento, Calif. Jul. 12, 2010 — Whenever California’s state budget fails to pass by the new fiscal year, state employees face the daunting prospect of deferred pay until its final approval. This year, SAFE Credit Union once again offers a service that keeps a budget gridlock from stopping members’ paychecks. SAFE’s State Employee Payroll Loan program allows the net paycheck amount to be deposited in the members’ designated checking or savings account.
In the event the State cannot pay employees, SAFE’s program offers an interest-free, fee-free loan in the amount of their regular net pay. State employees have the peace of mind that they can conduct banking as usual, without worrying about the effect of the budget impasse on their livelihood.
For 2010, SAFE has expanded the program by offering it to new members as well. State employees can join SAFE and, if qualified to open a checking account with Direct Deposit, can take advantage of the interest-free State Employee Payroll Loan.
About SAFE Credit Union
Established in 1940, SAFE Credit Union maintains assets in excess of $1.6 billion and serves more than 150,000 members through 21 branches in the greater Sacramento area. To learn more about SAFE, visit safecu.org.