First Source Bank assisting furloughed government employees
MISHAWAKA, Ind.-- First Source Bank is helping furloughed government employees who are struggling to pay their bills because of the government shut down.
Since the government first shutdown, calls have been pouring into First Source Bank in Mishawaka with concerned customers wondering how they will pay their utility bills, doctor bills and put food on the table.
“People are just concerned about the day to day bills, their children's activities at school, mortgages, car payments and groceries,” said First Source Bank manager Ron Zeltwanger.
Zeltwanger said he understands the financial strife government employees are going through during this time and he does not want their credit scores to be affected because they cannot pay their bills due to their delayed paychecks.
So First Source Bank is offering a little relief to its customers in the interim, in the form of a low interest loan.
“We wanted to do something to try and help our customers maintain good credit and pay their bills at a time when they may not be receiving a paycheck so we created a loan product,” said Zeltwanger.
This low interest short term loan product is designed specifically for these furloughed employees.
The bank tailors the loan to what the normal pay period would be so their clients can continue to run their household even if the government cannot.
“They would repay that when they receive their back pay or if they are not able to do that then we will set up a repayment term,” said Zeltwanger.