Sign up for TPR Today, Texas Public Radio's newsletter that brings our top stories to your inbox each morning.
San Antonio-based USAA said it plans to offer no-interest loans to eligible members impacted by the government shutdown.
Much of the federal government shutdown after Congress failed to set a budget for the upcoming fiscal year, meaning federal workers and active-duty military service members may miss a paycheck in October during the shutdown.
USAA said members who are employed by an impacted agency and have direct deposit setup with the bank can apply for a 0% interest loan equal to the amount of one net paycheck, up to $6,000.
Members could also be eligible for a variety of payment relief options across company banking and insurance products.
"We have an unwavering commitment to ensure the financial security of our members and this program is part of that value that we deliver every day,” said Michael Moran, president of USAA Federal Savings Bank, in a news release.
Loan repayments will need to be made within three months of funding, with payments split into two equal installments.
USAA said it will notify members when loan applications and other financial assistance programs are made available. Applications can be accessed on the USAA app, the website, or over the phone.
Similar assistance was offered during the government shutdown that occurred during the first Trump presidency.
Federal employees and military members are expected to get back pay once the shutdown is over.
