Newtown Savings Bank has joined Webster Bank and People’s United Bank in offering no-interest loans to federal workers in Connecticut affected by the partial government shutdown.
The loans are part of a program organized and backed by the state of Connecticut.
Federal employees living in Connecticut who are required to work without pay, or who are furloughed as a result of the shutdown, may borrow up to $5,000 during the shutdown, with six-month repayment terms beginning three months after shutdown ends, according to a statement from the bank.
In addition, bank customers who have been affected by the government shutdown may also be eligible for relief in the form of fee rebates, waived fees and other available options as part of the bank’s hardship program.
“We’re proud to have served our community through all the ups and downs of the past 163 years and are pleased to participate in this joint effort between the State and Connecticut’s banks,” Newtown Savings Bank president and CEO Ken Weinstein said in a statement.




