First Federal Lakewood's Efforts to Help Furloughed Workers
January 24, 2019 | Lakewood, OH
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The community we serve is important to us, and we are committed to our community and our customers under every circumstance. That’s why we want to do our part to help our customers who are experiencing the financial impact of being furloughed during the U.S. government shutdown.
During the government shutdown, we will be offering eligible customers the following financial assistance:
- Forbearance on mortgage and home equity loans. That means monthly payments will be temporarily suspended until the end of the arranged period, at which time mortgage payments will need to be repaid, with the possibility of setting up payment options.
- Reimbursement of incurred late mortgage payment fees from the beginning of the shutdown on 12/23 through the end of the shutdown.
- Reimbursement of overdraft fees on checking accounts from the beginning of the shutdown on 12/23 through the end of the shutdown.
First Federal Lakewood customers who are employed by the federal government must have documentation that they have been impacted by the U.S. government shutdown to be eligible for these benefits.
“We understand that this is a stressful time for all the government workers affected by the shutdown and we hope that there is a resolution soon,” says Tim Phillips, President and CEO of First Federal Lakewood. “We’re here for you and we encourage customers to call or visit us so that we can work with you to best meet your needs during this difficult time.”
For assistance with your mortgage loans, please contact the Furlough Lending Hotline at 216-239-5771.
For all other shutdown assistance, please visit your local branch or call 216-529-5630.