Drew Wilson
If another government shutdown hits, Check Cashing USA says it’ll offer the same no-strings-attached loan promotion for federal workers it did during the 35-day shutdown that ended last month.
During the 35-day government shutdown, Check Cashing USA offered federal employees $500 loans sans interest if they could prove they were going without pay. That proof could come by way of a government ID and a $0 pay stub, or a note from their employer confirming they were working.
Unlike the payday loans it offers to others, the shutdown loans were interest free and didn’t have to be paid back until paychecks started coming in again.
According to their website, a typical customer would pay $55 in interest in fees for a $500 payday loan, assuming they paid the loan back two weeks later. Those fees were waived for federal employees whether their next check came a week later or a month later.
“We hope for everyone’s sake that the government doesn’t shut down again,” said Jack Osman of Check Cashing USA. “But we were there for federal employees then, and we’ll be there for them in the future.”
The company made $1 million available for the program during the last shutdown.
“We feel fortunate to have the resources to be able to help families and people that count on getting paid when they work,” CFO Dan Osman said last month.
The loan program is part of a suite of charitable initiatives undertaken by the South Florida-based company.
“Our mission has been helping families in South Florida with any and all Financial needs for more than 4 decades and [we are] always looking for ways to give back to the community,” said CFO Brian Socolow. “This latest support to Government workers will go a long way to help our fellow Americans. Other charities over the last few years include Live Like Bella, The Dan Marino Foundation and The Epilepsy Foundation.”
The 2018-19 government shutdown was based on a fight over border wall funding and went down as the longest shutdown in U.S. history. It was the second shutdown since President Donald Trump took office two years ago.
It ended Jan. 25 when Congress and the president approved legislation to re-open the government for three weeks. Unless another spending bill is approved, the federal government could shutdown again on Feb. 15.
