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Jan. 10, 2019
First Dakota National Bank will provide a no-fee, no-interest loan program to credit-qualified federal employees affected by the government shutdown.
Borrowers can apply for loans of up to three months of their net pay. Applicants are not required to be existing customers of First Dakota.
The bank has set aside $5 million for the program, which will remain available for 30 days after the federal government reopens.
“Federal employees affected by the government shutdown are in a very challenging position through absolutely no fault of their own,” CEO Larry Ness said. “We can’t reopen the government, but our hope is that this program can provide those hardworking people with some relief in the meantime.”
Federal employees interested in the Federal Employee Shutdown Relief Program are encouraged to talk to a First Dakota banker or visit a local branch for program details. Borrowers must live or work in one of First Dakota National Bank’s service communities or surrounding areas: Beresford, Blunt, Chamberlain, Elk Point, Kimball, Mitchell, Oacoma, Parkston, Pierre, Salem, Sioux Falls, Vermillion, Wagner and Yankton.
First Dakota National Bank is offering special loans to federal employees who qualify during the government shutdown.