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ILLINOIS TREASURER MIKE FRERICHS’ OFFICE AND PARTICIPATING CREDIT UNIONS ARE OFFERING LOW INTEREST LOANS SHOULD STATE WORKERS MISS A PAYCHECK LATER THIS MONTH.

THE ZERO INTEREST LOANS SHOULD HELP PROVIDE SOME RELIEF TO CREDIT UNION MEMBERS IF THE BUDGET IMPASSE CONTINUE AND NO PAYCHECKS GO OUT AFTER JULY 15TH SAYS TREASURER FRERICHS.

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THE LOANS CANNOT EXCEED 50 PERCENT OF AN EMPLOYEE’S PAY…AND ARE AVAILABLE TO CREDIT UNION MEMBERS. IF YOU’RE NOT A MEMBER…TREASURER FRERICHS SAYS YOU STILL MAY BE ABLE TO GET A LOAN.

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THE LOANS ARE INTEREST FEE UNTIL 30 DAYS AFTER A BUDGET IS PASSED. IF NOT PAID OFF BY THEN, A NINE POINT NINE PERCENT INTEREST RATE WILL BE CHARGED.

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