Financial institutions offer assistance for employees affected by shutdown

Southern Bancorp announced yesterday that they will be offering assistance to any federal employee affected by the ongoing partial government shutdown, which began Dec. 22.

“This is new territory for a lot of folks, including a lot of banks that are trying to help folks out,” said Nathan Pittman, senior vice-president for Policy and Communications at Southern Bancorp.

Pittman said any federal employee affected by the government shutdown may receive assistance, including those that are furloughed or working without pay.

The bank will waive overdraft fees and provide immediate access to a no fee, zero interest loan of up to $1,500. The emergency loans will be payable within six months or whenever the shutdown ends and payroll processing begins, whichever comes first, according to a press release.

Pittman said the bank has not taken any political stance on the government shutdown; rather, Southern Bancorp just wants to help their patrons.

“Our only stance is that we know people are suffering right now and we want to do anything we can to help,” he said.

Affected federal employees must be Southern Bancorp customers to receive this assistance. They must present their most recent pay stub from the federal government as proof of employment.

Pittman urged any affected federal employees to visit their nearest branch and speak to an employee about getting assistance.

“Come talk to us,” Pittman said. “We want to help these folks during this difficult time. … They’re working for all of us.”

Southern Bancorp banks are located at 2421 N. West Ave. and 1615 W. Hillsboro St. in El Dorado.

Other financial institutions are also offering assistance for those affected by the shutdown.

According to their website, Regions banks will offer assistance to customers affected by the government shutdown. Their website says assistance could include help with overdrafts and a one-time penalty-free withdrawal from the customer’s certificate of deposit (CD) account.

Evelyn Mitchell, senior vice-president and head of Media Relations and Issues Management for Regions, said the bank will offer assistance to any customer affected by the shutdown, not just federal employees. She said any assistance would be tailored to each customers’ needs.

“For example, if a customer has a CD with Regions and is in need of cash, a penalty-free withdrawal may be helpful to that individual. For personal loan customers, loan forbearance or other assistance may be available,” Mitchell said in an email.

According to their website, Bancorp South may also provide assistance for those whose income has been disrupted by the shutdown. A media representative for Bancorp South was not able to be reached by press time for details of the assistance they offer or who the eligible parties are.

On Simmons Bank’s website, a banner along the top tells customers who have been affected by the shutdown that need assistance to call their Customer Care Center at 1-866-246-2400. A media representative for Simmons could not be reached by press time.

The United States Secretary of Agriculture, Sonny Perdue, announced yesterday that all Farm Service Agencies across the country would re-open Jan. 24. The U.S. Department of Agriculture recalled almost 10,000 employees, according to a press release, to return to work at the FSA offices.

Perdue also said that the deadline to apply for the Market Facilitation Program has been extended to Feb. 14, adding that other deadlines may be modified as well.

FSA offices will be open from 8 a.m. until 4:30 p.m. every weekday from Jan. 28 through Feb. 8. After that, offices will be open for those hours on Tuesdays, Wednesdays and Thursdays. The Ouachita County FSA office serves Union County as well. It is located at 351 W. Washington St., Suite 218 in Camden.

“The FSA provides vital support for farmers and ranchers and they count on those services being available. We want to offer as much assistance as possible until the partial government shutdown is resolved,” Perdue said.

Perdue said additional administrative services will be provided to farmers and ranchers during this time. For the full list of services the FSA will provide during this period, visit fsa.usda.gov/help/shutdowninfo.

The partial federal government shutdown enters its 33rd day today. Furloughed federal employees as well as those working without pay have missed one paycheck at this point and may miss more if the government shutdown continues.

Caitlan Butler can be reached at 870-862-6611 or [email protected].

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