USAA to Offer Financial Assistance for Members Impacted by a Potential Government Shutdown

Should a shutdown occur in March and impacts to paychecks become imminent, USAA stands ready to provide financial assistance to affected members.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, February 26, 2024
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Banking, Professional Services, Family, Consumer, White House, Federal Government, General Automotive, Automotive, Public Policy, Insurance, Finance, Congressional News, Views, Government, USAA, Bank
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UNITED STATES, NORTH AMERICA, TEXAS
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USAA
Summary
Key Points: 
  • Should a shutdown occur in March and impacts to paychecks become imminent, USAA stands ready to provide financial assistance to affected members.
  • Members may also be eligible for a variety of payment relief offers across USAA banking and insurance products.
  • “Stability plays an important role in the financial security of our members, and empowering that security is our mission,” said Mark Pregmon, VP Consumer Lending, USAA Federal Savings Bank.
  • “Our members can count on USAA to be there with them in the event of a government shutdown and ensure that their day-to-day financial needs continue to be met.”
    USAA will communicate when the loan application and financial assistance programs become available.


USAA continues monitoring for a possible government shutdown. Should a shutdown occur in March and impacts to paychecks become imminent, USAA stands ready to provide financial assistance to affected members.

Members who are employed by an impacted federal agency and have received an eligible direct deposit into a USAA checking or savings account within 30 days prior to the beginning of the shutdown will be able to apply for a no-interest loan equal to the amount of one net paycheck, up to $6,000. Members may also be eligible for a variety of payment relief offers across USAA banking and insurance products. Additional requirements may apply.

With multiple government funding deadlines and federal agencies impacted at different times, USAA recommends that federal employees take steps to learn from their employing agency when they may be affected and review their financial readiness plans, where possible.

“Stability plays an important role in the financial security of our members, and empowering that security is our mission,” said Mark Pregmon, VP Consumer Lending, USAA Federal Savings Bank. “Our members can count on USAA to be there with them in the event of a government shutdown and ensure that their day-to-day financial needs continue to be met.”

USAA will communicate when the loan application and financial assistance programs become available. Members will be able to apply for these no-interest loans directly on the USAA.com website and the USAA app, as well as over the phone.

More information on USAA’s financial assistance related to a potential government shutdown is available at usaa.com/relief.

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking, and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.

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