EL PASO, Texas (KTSM) — The United Services Automobile Association (USAA) has provided $144 million in no-interest loans to around 39,000 members in just over 48 hours, aiming to help support military service members, their families, and federal employees amid the government shutdown, the company announced in a news release.
Troops will miss paychecks next week without action on the government shutdown
According to its website, USAA is a financial services company providing insurance and banking products exclusively to members of the military, veterans, and their families.
As part of USAA’s program, eligible members employed by impacted federal agencies, including active-duty military, can apply for a no-interest loan equal to one net paycheck, up to $6,000.
The loan, open to members who have received an eligible direct deposit into a USAA checking or savings account within 30 days before the beginning of the shutdown, features flexible repayment terms within 90 days, giving members room to manage finances during this period, according to USAA…