Jill Schramm/MDN Gate City Bank, shown Tuesday, is among banks offering help to federal workers in the form of short-term loans and extended payments.

Federal workers trying to make ends meet without paychecks during a government shutdown are getting help from their financial institutions.

Local banks and credit unions have p5rograms in place or are offering one-on-one assistance as needed. The Legislature is getting involved as well with the introduction this week of Senate Bill 2357, which directs the Bank of North Dakota to make interest-free loans to federal employees who, due to the federal shutdown, are working without being paid wages or are on a salary furlough.

In Minot, Bremer Bank has been waiving overdraft fees, offering short-term loans and loan extensions and eliminating penalties on early withdrawal from certificates of deposit.

“Each customer would have probably a unique need or require a unique help for their specific situation so we are more than willing to work with them,” said Wes Black, market president at Bremer in Minot. “It’s important that they contact us as soon as possible so we can work through that with them.”

To date, Bremer hasn’t seen extensive hardship occurring, but Black said the longer the shutdown continues, the tougher things will get. Having that talk with your banker now will help to stay ahead of what might be coming, he said.

Gate City Bank also is encouraging federal government employees affected by the shutdown to reach out as soon as possible to proactively discuss financial options. The bank reports it may be able to help customers by extending a payment on a loan, honoring currently scheduled closing dates or working around potential overdraft situations.

In addition, Gate City Bank is offering a short-term loan at zero percent interest rate with no fees.

“It’s difficult to see those experiencing financial hardship due to this shutdown, and as their Bank we want them to know we are here to help,” said Kim Settel, executive vice president of Retail Banking & Lending, Fargo, in a news release.

Gate City Bank reports it already is seeing customers reach out.

“I had a customer who was nervous about letting us know. We were able to help the customer by adjusting their upcoming loan due date,” said Norm Clark, senior vice president of Relationship Banking & Development, Bismarck, in the release. “The customer said it put their mind at ease, since they didn’t need to worry about how they were going to make payments, plus buy groceries and pay their monthly utilities.”

GEM Federal Credit Union in Minot has been offering up to $7,500 in a six-month loan at no interest to federal employees unable to work or going without pay due to the shutdown. Susan Bergman, membership development officer, said the program has seen a fair amount of interest.

GEM Federal Credit Union serves city, county, state and federal employees and SRT employees.

For customers who are federal government employees and affected by the shutdown, Wells Fargo will automatically reverse monthly service or overdraft/non-sufficient fund fees on deposit accounts that had a payroll check direct deposited into that account in November 2018, according to the bank’s website. Wells Fargo also will automatically reverse and waive late fees on credit accounts, including home equity and home mortgages. Wells Fargo will not apply late charges or report negative credit implications for up to 90 days on home loans. Applicable foreclosure activities will be placed on hold (subject to court approval).

“Because every situation is different, Wells Fargo is assessing the individual needs of customers who are employed by the Federal Government and impacted by the shutdown, and working with them on a solution,” Wells Fargo states on its website. “The company offers options on all loan types to help these customers avoid the negative consequences of missing a payment, such as late fees, negative credit reporting, auto repossession and foreclosure.”

Some institutions, such as People’s State Bank and American Bank Center, have been working with clients individually to help them through specific concerns raised by the shutdown. Area banks are providing some help too. Starion Bank, which has branches in Bottineau, Dunseith and Rolla in the Minot region, is offering a consumer assistance program for existing loans. Station Bank is allowing payments to be deferred for the first quarter of 2019.