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First Command Will Cover Federal Pay in Event of Government Shutdown

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FORT WORTH, Texas ~ First Command Financial Services, Inc. announced today that it will extend direct deposit federal pay as part of a comprehensive plan to address potential financial hardships in the event of a government shutdown. Mark Steffe, CEO/President of First Command, stated that the company is "committed to doing all we can to ensure that our clients are not financially harmed by government actions or inactions that are beyond their control."

The payroll advance offer will extend to several thousand affected clients with existing direct deposit arrangements for their government paychecks through First Command Bank. The plan includes zero-interest payroll advances, loan assistance, penalty-free early C.D. withdrawals, secured lines of credit and special handling of credit card accounts.

First Command Bank is committed to making sure that clients who have existing direct deposit arrangements for their government paychecks will continue to have money in the bank. The program is designed to ensure that payroll advances will be transparent to clients, who will see the usual direct deposit amount credited to their account. Loan Assistance is also available for those who may be struggling with family budgets due to a government shutdown. Penalty-free early C.D. withdrawals and secured lines of credit are also available for those who need them during this time. Furthermore, First Command Bank's Visa cardholders will be offered priority processing for increases to credit limits and deferments of monthly payments as well as waived cash advance fees during a shutdown period.

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In addition, First Command Financial Advisors are prepared to offer guidance on dealing with federal allotments for investments and insurance as well as other issues affecting family finances during this time of uncertainty. Steffe concluded by saying "We have helped thousands of military and federal employees and their families plan for their financial futures, supporting them through times both good and bad...We are committed to make good on our mission of coaching those who serve in their pursuit of financial security."
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