CSB Offering Relief Loan to Government Employees During Shutdown

Loan Created to Cover Essentials During Ongoing Hardship

UNION GROVE – Community State Bank believes financial institutions have a responsibility to stand with its customers during times of financial uncertainty.

Due to the ongoing government shutdown, Community State Bank is offering a CSB Relief Loan to government employees facing financial hardship.

“We understand times are tough right now for many government employees affected by the current shutdown,” Community State Bank EVP | Chief Lending Officer | Market President (Kenosha County) Robert Pieroni said. “As a true community bank, we want to do anything we can to help the families affected during a time of need.”

The loan is for government employees impacted by the current shutdown and works like a paycheck, offering access up to 90-percent of your gross monthly pay to cover essentials. There is a maximum loan amount of $35,000.

To learn more, click HERE or contact CSB at (262) 878-1191.

CSB Relief Loan

For government employees impacted by the current shutdown
A low 4.00% APR* to keep costs manageable
No payments during draw period
No penalties if you pay it off early
Access up to 90% of your gross monthly pay to help cover essentials
Works like a paycheck
Maximum loan amount of $35,000

Credit approval required. The CSB Relief Loan is available to eligible federal government employees affected by a government shutdown. Credit limits are based on verified income and may be up to 90% of gross pay for a six-month period, not to exceed a maximum loan amount of $35,000. Borrowers may request draws biweekly during the six-month draw period, in amounts up to their verified biweekly gross pay. No payments are required during the six-month draw period. If the government reopens before the end of the draw period, borrowers may continue to take draws for up to two weeks after reopening; no further draws will be available after that time. A fixed interest rate of 4.00% applies. No application, origination, annual, or draw fees are charged; a late fee may apply. A single balloon payment will be due at maturity. Eligibility requires current federal government employment affected by the shutdown, two recent pay statements, and verification of continued active employment, which may include a letter from the employer or other acceptable documentation. A minimum 650 credit score and a maximum 50% debt-to-income ratio (excluding the payment on this loan) apply. Funds may be disbursed into a CSB account with a debit card, by cashier’s check, or by wire transfer to another financial institution; customers receiving wire transfers may incur fees from their receiving institution. For example, a $35,000 loan at a fixed 4.00% interest rate has a 4.00% APR and requires one balloon payment of $35,705.75 after six months, with a finance charge of $705.75. The full outstanding balance is due at maturity. Terms, conditions, and eligibility requirements are subject to change.