Tuesday, July 6, 2010

CEFCU Offers Citizen Soldier Loans

CEFCU is pleased to announce that it is a participating financial institution in the Illinois Citizen Soldiers Program. This program, administered through the Illinois State Treasurer’s Office, offers short term loans to members of the National Guard and Military Reservists to help them support their families during, or after, deployment.

Qualifying individuals can receive up to $10,000 for a maximum of two years at a rate of 3% APR. Individuals can apply for the loan prior to deployment, during their active duty, or up to six months after their return home. One of the benefits of this program is that loan payments will not begin until the individual returns from active duty. Citizen Soldier loan applications and information about the program can be found on the Illinois State Treasurer’s website, http://www.treasurer.il.gov/programs/opportunity-illinois/consumer-loans/citizen-soldiers.aspx.

Mary Conrady, CEFCU Vice President of Consumer Lending, stated, “CEFCU is proud to participate in the Citizen Soldiers Program. Men and women who are serving our country should not have to worry about how their family is getting by financially here at home. This will provide some relief not only for the soldiers, but also their loved ones. ”

With assets totaling $4.4 billion, CEFCU serves 270,000 members through 19 Central Illinois Member Centers; Valley Credit Union, a division of CEFCU; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU’s Web site, http://www.cefcu.com/; and cefcu.mobi.

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