BIRMINGHAM, Ala., Oct. 1, 2013 — The shutdown of the U.S. government at midnight tonight may impact government employees’ pay and, in turn, their ability to make their monthly loan payments. In response, Cadence Bank is offering a one-month payment extension to its clients who are U.S. government employees, including men and women in the U.S. military.
“We understand this shutdown may impose hardships on men and women employed by the U.S. government,” said Jon Boydstun, senior vice president, retail executive for Mississippi and Georgia. “In times such as these, it’s important to be helpful, to be a resource for those in need. As a furlough could impact the government’s ability to process payroll, we want to be available to government employees for counseling and ease their anxiety by offering this one-month payment extension.”
Cadence will provide to current qualified loan customers employed by the U.S. government the ability to postpone their October loan payment and waive the associated fees. Customers are invited to contact a Cadence Bank branch to initiate this request. Clients will be asked to provide a copy of their government identification in order to process the one month extension of their loan at no fee. A listing of branch offices can be found at www.cadencebank.com.
Sam Tortorici, CEO of Cadence Bank, said: “Alleviating any amount of stress in this situation is a small token of our appreciation for the many contributions made by these hard-working individuals, particularly the men and women of service who every day place their lives on the line for all of us.”