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Multipli Credit Union President Judy Hadsall and Community Foundation of the Ozarks CEO Brian Fogle announce the program on Monday.
Photo courtesy Community Foundation of the Ozarks
Multipli Credit Union President Judy Hadsall and Community Foundation of the Ozarks CEO Brian Fogle announce the program on Monday.

Multipli, CFO partner on loans for furloughed federal employees

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The newly rebranded Multipli Credit Union and Community Foundation of the Ozarks yesterday joined a growing group of businesses seeking to aid federal employees affected by the longest government shutdown in U.S. history.

Multipli, formerly CU Community Credit Union, and CFO are partnering on a no-interest loan program for furloughed government employees in Greene, Christian, Dade, Dallas, Lawrence, Polk and Webster counties, according to a news release.

“The goal of this effort is to create a bridge for these workers and their families, many of whom are continuing to perform their jobs during the partial shutdown,” CFO President and CEO Brian Fogle said in the release. “We don’t want these workers to suffer any additional stress or feel the need to consider a high-interest payday loan to help them weather the shutdown.”

Through the Multipli and CFO program, employees who are not receiving paychecks can apply for up to $1,500.

CFO is making an interest-free charitable investment to Multipli to the tune of up to $500,000 to fund the loans. Eligible federal workers must pay a $30 processing fee to Multipli, covering the cost of a credit check. The loans require a minimum credit score of 620, according to the release.

Some 2,100 federal employees work in Greene County, according to the release, including those at the federal judicial system, Springfield-Branson National Airport, Department of Health & Human Services, Social Security, the IRS and the U.S. Medical Center for Federal Prisoners.

The program announcement follows news that Alamo Drafthouse Cinema is providing free tickets for furloughed federal workers through the end of the month. Ozarks Food Harvest also is providing food assistance to impacted federal employees, Springfield Business Journal previously reported.

The partial government shutdown today entered its 25th day. Previously, the longest shutdown of 21 days occurred in 1995-96 when Bill Clinton was president, according to CBS News.

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