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U.S. Banks Waive Fees for Furloughed Federal Employees

It has been one week since 800,000 federal workers nationwide were furloughed by the partial government shutdown. Potentially thousands of people have missed one paycheck already, and without knowing when the government shutdown will end there is no telling whether these individuals will miss more paychecks, nor when they will eventually be compensated for these missed days of work.

Understandably, the uncertainty has led to a great deal of anxiety for furloughed employees wondering how they will pay their monthly bills, including crucial bank debts like home mortgages, auto loan payments, student loan repayments, and credit cards. Some banks are mitigating this anxiety by proactively offering ways to give furloughed workers a break.

Assistance being offered by banks, both large and small, include: fee waivers, mortgage payment adjustments, missed payment forgiveness, early access to funds without penalties, and other personal assistance based on individual cases.

See below to find out if your bank is offering assistance to out-of-work federal employees.

Alpine Bank

of Colorado has set aside $13 million to provide interest-free loans in the amount of the applicant’s last paycheck.

To Qualify

This offer is open to anyone in the Alpine Bank communities, even non-customers. Bring your last government pay stub and identification to your local Alpine Bank. Alpine Bank will lend you the NET amount from your last pay stub – interest FREE. Repay when the government shutdown is resolved.

Andrews Federal Credit Union

has a number of options to assist furloughed workers, including military personnel. They offer:

  • Bridge Loans: Up to $5,000, interest-free for 90 days
  • Other low-interest loan products

To Qualify

Call AFCU at 800.487.5500 or send an email

Bank of America

Offers assistance on a case-by-case basis. The Customer Assistance Program, which runs year-round, offers help to customers who are struggling to make loan and mortgage payments.

To Qualify

Contact the Bank of America customer assistance program if you are having difficulty making your loan and mortgage payments

Bank of Hawaii

is launching programs to assist its customers who are federal employees or contract employees to the federal government and affected by the shutdown.

  • Defer payments on mortgages, home equity credit lines, auto loans and personal loans for up to six months or the end of the government shutdown — whichever comes first
  • Waiving late fees during the shutdown
  • Set up a post-shutdown payment plan
  • $1,000 loans – terms: 14 months, 7% interest rate, no payment required for the first two months

To Qualify

Call 1-877-2BANKOH or visit your local BoH branch.

Bank of the West

already has a program in place to help customers who are having difficulty making their loan payments.

  • Loan “workout” or modification providing for a more affordable mortgage payment.
  • Alternative repayment plans to assist you in bringing delinquent payments current over a period of months rather than in a lump sum.
  • In certain situations on home equity loans, temporary relief may be available through payment deferments.

To Qualify

Eligibility is based on current monthly income, current expenses, and loan type. Bank of the West is willing to work with customers to find a plan that suits your needs and is not limited to the options above. Contact them to work out a plan.

Cadence Bank

issued a press release about its loan extension offer for furloughed federal workers, including members of the U.S. military.

  • One month extension on loan payments

To Qualify

Must be a current qualified loan customer; Bring a copy of your government identification to a Cadence Bank Branch for assistance.

Capital One

has a financial hardship program that is now being advertised for government employees.Capital One will work one-on-one with qualifying customers to:

  • Waive fees for out-of-network ATMs
  • Waive late payment fees
  • Will allow some customers to defer payments

To Qualify

Call the phone number on your credit card or statement or reach out to @askcapitalone on Twitter if you need assistance.

Chase Bank

will review customers’ queries on a case-by-case basis to offer a solution.

To Qualify

call 1-888-356-0023 or tweet us @ChaseSupport

Citi Bank

will review customers’ queries on a case-by-case basis to offer a solution.

To Qualify

Contact us by phone or in person

Citizens Bank

is currently developing a program to assist customers who may be impacted by the federal government shutdown. For now, they will:

  • Waive fees for customers affected by the federal payroll freeze
  • Allow customers to cash certificates of deposit (CDs) early without incurring a fee


will review customers’ queries on a case-by-case basis to offer a solution.


Contact Discover’s Help Center

Hanscom Federal Credit Union

  • Offering a Life Line of credit equal to one month’s pay up to $5,000. Terms: 60 days, 0% APR
  • Penalties will be waived for federal employees making withdrawals from certificates (CDs) during the furlough period.
  • You may qualify to skip a payment on select loans

To Qualify

Speak with a representative by phone or in a branch for details. See if you qualify for a Life Line.

PNC Bank

already has a Borrower Assistance Program. PNC will work with mortgage, home equity loan/line of credit, and credit card customers on a case-by-case basis to offer a solution.


Contact the PNC Loan Assistance Specialists as soon as possible to help develop a plan for your PNC account. Call today or log on to to get started.

TD Bank

has created TD Cares, a three-pronged program to help customers who work for the federal government. The program will run from Oct. 10 to Nov. 2, or until the government shutdown ends. Customers are encouraged so sign up as soon as possible. TD Cares offers the following to customers who have been affected by the shutdown:

  • Paycheck Advances up to $1,000 with no interest or fees
  • Waived late fees on credit cards
  • Adjusted mortgage payment plans


Customers will need to have a TD Bank account that has been in good standing for at least 60 days, a government ID, and a furlough letter.

U.S. Bank

will review customers’ queries on a case-by-case basis to offer a solution.


Contact Us

Wells Fargo

will review customers’ queries on a case-by-case basis to offer a solution.


Contact us by phone or in person

If your bank is not on this list, please leave a comment including your bank name on our Facebook page or tweet @MyLoanAdvisor. This list will be updated as we receive more information.

Many people were surprised by the recent government shutdown and thrown off balance by the lapse in pay. Even those on a very tight budget can find a way to set up a fund for emergency situations. If you are worried about unforeseen circumstances affecting your finances, read our past article on Setting up an Emergency Savings Fund.

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