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No. We are unable to access our IRS National location at 1111 Constitution Avenue, N.W. Room 1716 Washington, D.C. 20224. The ITM at this location is now restricted access.
FedChoice is offering a 60 day extension on our Home Equity Loans/Lines of Credit due to the government shutdown for impacted members. Please contact us so that we can assist you further. Please note: interest will continue to accrue.
Will I need to provide any information to take advantage of this? Yes – we will ask to see your furlough letter.
No, you are welcome to join FedChoice today and apply for both a Furlough Loan and Membership at the same time by clicking here.
Yes, we require your furlough letter. If you are applying for the loan, we will also ask you to provide your two most recent pay stubs.
You can apply to become a member online through the following link or at any of our Financial Service Centers.
Please check our Membership Eligibility before applying to see requirements.
At this time, you may skip two loan payments on qualifying FedChoice loans. This option is available on vehicle loans, VISA® credit cards, lines-of-credit, and personal loans. If you have already skipped a payment, you are welcome to skip another. Please note: interest will continue to accrue.
Do I need to provide any information? Yes – we will ask to see your furlough letter.
Are any loans excluded? Real estate loans do not qualify for this program.
A skip will not impact your credit. Please note: interest will continue to accrue.
You will need to open your own membership account. You are able to submit your membership and Furlough Loan application at the same time by clicking here.
You can review our membership eligibility here.
The action needed for a skipped loan payment depends on the payment method:
- Automatic payment from a FedChoice account: The transfer will automatically reschedule for your next due date.
- BillPay from another institution: You must cancel the payment through that external Financial institution/service.
- Scheduled or repeating transfer setup within eBanking from another institution: Cancel or edit the payment directly in your FedChoice online banking.
No, this is a one-time loan. Members can apply for up to one month’s net pay vs a single payroll deposit.
Yes! In response to the ongoing federal government shutdown, LendKey will offer a forbearance of up to three (3) months to assist borrowers and cosigners who have been impacted. This program is designed to provide short-term payment relief while ensuring consistent servicing support for affected borrowers.
Please contact LendKey Directly at 888-966-9268 or email servicing@lendkey.com for assistance.
The first payment for the furlough loan is due 60 days from the date you signed your documents. For 90 years, we have helped the federal community and this time will be no different. We will continue to monitor the impacts of the federal work force and adjust as events unfold.
The Furlough Loan is subject to normal FedChoice underwriting requirements. Yes, there is a credit check, and it is a hard pull.