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California State Employee Budget Impasse Loans

July 10, 2010

With the lack of a California budget and the promise of minimum wage by Governor Schwarzenegger many California state employees are wondering how they are going to get through the next few months at seven dollars and twenty-five cents per hour the current federal minimum wage. If you look at this Bloomberg article you can see that Golden 1 credit union as well as Bank of America and many large banks are offering budget impasse loans to state employees to help get you through this time.

Many employees are left thinking great my bank is going to loan me the money and at the low low rate of zero percent which let’s face it is a great deal. With further research the only banks offering this deal are Golden 1 credit union and the Safe Credit Union both based out of Sacramento

Currently too my knowledge no large banks Bank of America or Wells Fargo bank are offering these loans to state employees. Hopefully I am wrong on this account and I just can’t find the info. If you find this to be the case please inform me and I will update this post.


From → money, people, things

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