Retirement Counseling Tips
This webcast provides Agency HR Professionals who specialize in employee benefits with the knowledge and resources required to conduct and develop a ...
Preparing to Comply with Regulatory Changes to the Military Lending Act
During this webinar, staff from NCUA's Office of Consumer Protection will provide a high-level overview of the significant changes to the regulation implementing ...
Allotment Loans for Federal Employees in Virginia
Installment loans for federal employees and postal workers are typical for bad credit borrowers. Installment contracts are close-ended.
Close-ended means that the contract has a specific repayment term with fixed periodic payments.
Installment loans come in many forms, but only those with very short repayment terms fit bad credit borrowers. Short terms limit risks for lenders.
Following the 2-minutes application process and uploading your proof of allotment, it takes in average 15 minutes. If you submit the document after the close of business, allow us 30 minutes in the following morning to review your case.
Federal government employees can access allotment loans on the most favorable terms on average (interest rates, origination fees, and use of discretionary deductions). Your future earnings and job security are far better when compared to the typical borrower.
Can federal employees get loans?
Federal employees receive various benefits in the event of a family emergency or crisis. One such benefit is the emergency allotment loan that the Federal Employee Education and Assistance Fund provide.
Short Answer: If your credit is less than perfect, and you’re a federal employee, there are many different options for you to get a loan.This includes personal loans, a home equity line of credit, and/or last-ditch lending with a payday loan. For more information on what financing option is best for you, and a list of companies that specialize in each type of loan, see below.
Being a federal employee has its benefits. However, as of now, the federal government does not provide guaranteed personal loans especially for federal employees.
d. CSRS and FSRDS Employees. Employees in the CSRS and the FSRDS are not eligible for the agency automatic 1 percent contribution or the agency matching contributions.
Division of Federal Employees' Compensation (DFEC) Procedure Manual FECA Part 2. Part 2 of the Procedure Manual has been divided into groups to make it easier for you to search and find the information you are looking for.