PAWTUCKET – Coastal1 Credit Union is offering short-term, interest-free loans and other financial relief to federal employees affected by the ongoing partial government shutdown, it announced on Oct. 6.
Eligible individuals who live in Rhode Island or Massachusetts and can provide proof of furlough or loss of pay may apply for a 90-day, interest-free personal loan of up to $3,000.
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After the 90-day period, the loan can be repaid or extended at a discounted interest rate.
Applicants must meet credit requirements and be or become members of the credit union by opening a $5 share account.
The credit union is also offering skip-a-payment options on existing loans with no fees, and will waive early withdrawal penalties on deposit accounts for affected members.
Accepted documentation includes a recent pay stub showing no income, a furlough notice from the federal government, a government-issued employee ID, or a final 2025 pay stub.
Coastal1 operates 11 branches across Rhode Island, located in:
- Pawtucket [2]
- Providence
- Cranston
- East Providence
- Johnston
- Lincoln
- North Providence
- Smithfield
- Warwick
- Woonsocket
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
