When will repayment start for CG/NOAA members utilizing the special personal loan offer for pay disruption during government shutdown? If pay disruptions continue beyond the first due date, will USAA extend the start date for repayment? Also, in that instance, will members be able to borrow additional funds for the same APR if the initial amount does not cover subsequent pay periods?


@KA0301, Thank you for reaching out. I'm sorry to hear you may be affected by the shutdown. I have forwarded your question to the appropriate area and awaiting a response. I will follow up with you as soon as I receive more information. Thank you. ~ Lori C

It’s a one time loan. Usaa is doing a great injustice forcing CG members to borrow and I’m hearing lots of denials, so how is that helpful USAA? So disappointed and moving on from USAA


I am sorry to hear you are disappointed

We are always reviewing our product offerings to ensure we are providing the best possible solutions for our members. In this case, we’ve developed a product that can be quickly targeted to the specific members impacted by the government shutdown, while still providing outstanding member value. We are committed to finding the best ways to serve our members and help them protect their financial interests, now and in the future
I will pass your feedback along to the appropriate team. ~ Lori C

It’s nice to have options. They are doing something a little different than Navy Fed, with which I also bank. If I don’t have to start repayment on this loan before the lapse in appropriations is over, I would prefer the option to repay over 12 months. It fits my financial situation better. And a .01% APR means I wouldn’t have to pay a penny in interest borrowing up to $9,999. Yes there’s a hard pull on your credit report but some are alright with that. I don’t understand why people expect USAA to mimic NFCU rather than offer an alternative? I was upset about the delayed reaction, but I think their offering is substantial. Hopefully the situation resolves soon and we can get our pay from the institution that actually owes it to us.

@KAM0301, Thank you for adding your comments. I appreciate you taking the time to share your thoughts and we appreciate your support and understanding our decision/offer. 

Your membership and trust is greatly appreciated. Have a great day! ~ Lori 

I agree that the 0.26% APR discounted to 0.01% APR is neglible and should not affect anyone.  However, the issue is that it is an Unsecured Loan that is subject ot credit approval, unlike the guaranteed loan of Nevy Fed.  As such, I have not heard of anyone getting approved and I've already heard of TONS of people getting denied.  People with over 720 credit scores trying to do for 3 months getting denied then trying for only 2 month term and getting instantly denied yet again.  The idea behind it is great yet the follow-through behind it is not there.  If they are not going to approve anyone with less than perfect credit score, then they are not actually doing anything for us Active Duty service members other than paying lip service.

That is disappointing to hear. I’m hoping that I can get a response soon about whether or not we can borrow additional funds against the same loan later. If that’s possible, borrowing the minimum amount to get by initially and not months and months of pay might be the ticket to approval.
No one institution is perfect, which is why I bank with both USAA and NFCU. Last I saw NFCU will only let you borrow a certain amount based on how much you direct deposit to them, but I haven’t checked lately to see if that has changed. Maybe NFCU will come through on additional funds later if USAA cannot.
Either way it shakes out, with all the outrage I am reading against the financial institutions, I hope to see a marked increase in utilization of Command Financial Specialists in the new year so people don’t have to rely on loans to pay their bills when these unfortunate situations occur. This won’t be the last time we see this happen I’m sure.

Why is it USAA's fault you are not getting paid?  I fail to see why they are forced to help at all.  I'm in the same boat but how about live on less than you make? How about buying a cheap car? How about saving some money and eating out less.  There  should not be any government employee that cannot go without a months pay and still be fine. Look at your spending and I'm positive to see cable, internet and cell phones probably a huge car payment too. How about spending less than you earn. Save a three month emergency fund and you will not have nothing to worry about anything. You will receive back pay too.

Fatkidadventure I’m not sure who you were addressing but I am onboard with USAA’s offering. That said, while we all have our opinions I am making it a point not to judge my shipmates on their financial situations. Are some folks guilty of gross financial mismanagement that led them to be in a perdicament due to temporary loss of pay? Sure. But some of us have no control over what life throws at us, and we have no idea how long this shutdown will last. Sometimes, when it rains it pours and even the heftiest of emergency funds can be depleted quickly. To add uncertainty over our pay to that mix could be the breaking point for some members. This loan is added security for those of us who are facing financial hardships, whether or not they are due to our own actions. I hope we can all exercise some compassion towards our Servicemembers with whom we interact.