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Government Shutdown Assistance

Government Shutdown Assistance with C.A.R.E.

Access to emergency funds can provide the financial stability and peace of mind you need to live daily.

 

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Government Shutdown Assistance with C.A.R.E.

At Cabrillo Credit Union, we understand how uncertain these moments can feel. That’s why we created the C.A.R.E. Program (Cabrillo Advanced Relief Effort), a proactive financial safety net designed specifically for times like these.

šŸ’” How Cabrillo’s C.A.R.E. Program Can Help

Our C.A.R.E. (PLOC) Program was designed to provide emergency financial support to eligible federal employees during times of uncertainty in a government shutdown. C.A.R.E. gives you early access to a line of credit—before your finances are disrupted.

Cabrillo Advanced Relief Effort Program (C.A.R.E.) Benefits

Program Highlights*:

  • First 60 Days at 0% Interest
  • Fixed Prime Rate After 60 Days
  • Pre-Approved Access to Emergency Funds
  • No Immediate Need to Draw Funds—Just Be Prepared
Cabrillo's Advanced Relief Effort Program (C.A.R.E.) provides unique new benefits, such as zero interest up to the first 60 days.*
 
 

APPLY NOW

Apply now and get it early before it's too late. C.A.R.E. allows our members to get pre-approved for access to emergency funds through a line of credit before an emergency happens.

 

šŸ›‘ What Happens in a Government Shutdown?

If Congress fails to pass a funding bill, many government operations will halt. Workers may face furloughs or delayed paychecks, and essential services could be paused or scaled back.

šŸ”“ Apply Now

Waiting until after a shutdown to secure financial help could put unnecessary strain on your household. The best time to apply for C.A.R.E. is now—before any income interruption occurs.

How to Apply For C.A.R.E.

Proactively protect your financial well-being.

Follow these steps to complete your application for C.A.R.E.

  1.  Select “This is a Line of Credit”
  2.  Select “No” to Will this line of credit be used as overdraft protection? 
  3.  Click on Cabrillo Advanced Relief Efforts (C.A.R.E. Program)

APPLY NOW

For more information on C.A.R.E., please contact a Cabrillo Representative.

 

Cabrillo Credit Union is proud to support our members in a government shutdown. If you have questions or need assistance, please don’t hesitate to reach out to our team.

*Eligibility requirements apply. Availability of funding is periodic and related to the status of the applicable declared emergency. Proof of hardship is required. Subject to credit approval. All offers and loan program are subject to change and may be terminated without notice. 

Related FAQs

CARE Personal Line of Credit (PLOC), which replaced the former PAL program, is a line of credit that will be available to all members who apply and qualify, under the emergency criteria of a declared government shutdown.

CARE Personal Line of Credit (PLOC) is designed to provide temporary financial relief. It is available to all members directly impacted by the applicable emergency.

If you don’t already have a CARE Loan, you must apply. Please note, an application will include a hard credit pull.  

Members may apply for the CARE PLOC anytime. The program will be activated once Cabrillo confirms a government shutdown. Funds will be made available by the next scheduled government payroll deposit. Members can access funds through digital banking or at any branch. No activation is required—Cabrillo CU monitors events and will activate CARE automatically.

Members can advance any amount within their limit, with 6 months to repay. The first 60 days are interest-free; beginning day 61, interest accrues from the advancement date. Payments begin after 90 days, with 4 equal installments unless paid earlier to avoid interest.

Variable rate: Prime + 5% (fixed during each activation period). APR: No interest for the first 60 days from advancement; interest accrues starting day 61.

Current rate: 12.25%.

The maximum CARE PLOC limit is $10,000. Our underwriting team will determine your approved amount. To request a higher limit than what you are currently approved for, a new application must be submitted.

The CARE PLOC stays active until the government is funded for the fiscal year. It is a single line of credit and will be deactivated once funding resumes, with no further advances allowed.

No need to reapply – the PLOC will activate again if there is another shutdown. Note: if there is a balance, members will only be able to advance from the available balance.

The CARE PLOC is only for the primary account holder. Joint members must apply separately under their own account if they qualify.

The loan is good for the life of membership; however, it will only be active during government shutdowns.

PAL was originally used for aid to specific groups impacted by the government budgetary shut down. Cabrillo felt the need to create a program that was more robust and available to all members who may be impacted by financial hardship.

* Key differences between PAL and CARE PLOC are as follows:

Key Differences between PAL and CARE PLOC
PAL CARE PLOC
$500 minimum Direct Deposit to a Cabrillo checking account was required to open and remain available No direct deposit is required but encouraged.
The credit limit is equal to the last direct deposit amount, which can vary. The line of credit limit is set at the time of the loan application, so you know exactly how much credit you have with no surprises.
Balance is automatically paid off from your checking account once your payroll is directly deposited. Take control of your payments with the flexibility to pay off your balance at your own pace over 6 months. Plus, enjoy 0% APR for 60 days from activation to make installment payments.
Originally offered to a narrow group of members only. Designed to be more robust and available to all members who may be impacted by financial hardship caused by a government shutdown.
Requalified for activation at each initiation of the program. One-time qualification for your set line of credit, activated at each initiation of the program.
Account does not help you build credit. Enhances your credit profile.
The interest rate if not paid in full when due is 18%. The interest rate after 60 days is only the Prime Lending rate, plus 5%.

 

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