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TD Bank Launches Assistance Program for Furloughed Federal Employees

Government employees affected by the shutdown will be eligible for $1,000 in emergency funds.

TD Bank today announced it would allow furloughed federal employees access to funds at no cost through checking overdraft services and flexibility with credit card and mortgage payments.

The new "payment assistance program" will run from Oct. 10 through Nov. 2, or the end of the federal government shutdown, whichever occurs first. Customers who have had a TD account that has been open for at least 60 days and is in good standing can present their government ID or furlough letter at any TD Bank branch in order to be eligible to access up to $1,000 of funds that are not currently available in their account with no fees or costs, the bank said.

The bank also said it would offer late fee refunds for TD Bank Visa credit cards, as well as hardship assistance in making mortgage payments in some cases.

Customers impeached by the government shutdown can call TD Bank's 24/7 live phone support to learn more about the program, the bank said.

[See Also: TD Bank Answers Customer Needs Through Data And Analytics]

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
10/7/2013 | 10:26:46 AM
re: TD Bank Launches Assistance Program for Furloughed Federal Employees
Very cool to see TB Bank doing this for customers. It seems that BofA, Bank of the West, Citizens Bank, Union bank and many smaller credit unions are offering similar programs.
IvySchmerken
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IvySchmerken,
User Rank: Author
10/5/2013 | 5:13:58 PM
re: TD Bank Launches Assistance Program for Furloughed Federal Employees
Given the hardships imposed by the government shutdown, it's gratifying to see TD Bank come to the aid of its customers. Employees who are not receiving a paycheck for several weeks or as long a this shutdown lasts, can fall behind in their mortgage payments and credit card bills. TD Bank's emergency aid and no-fee checking overdraft services should set an example for other banks to follow. Have you heard of any other banks offering a similar program?
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