Thursday, April 18, 2024

Cashmere Valley Bank helps out federal employees

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    Many of us eye our bank accounts eagerly when we expect the direct deposit from our 9-5. However on Friday, January 11 federal employees missed the first pay day due to the government shutdown.
    Federal workers currently on hiatus, due to the infamous wall and the debate surrounding it, is not breaking news and in fact has become a staple in the media - however, the bank many locals use for their own direct deposits, Cashmere Valley Bank, has stepped up to offer aid to those federal employees in limbo.
    "For any of our customers that are federal employees and their pay is automatically deposited, we will advance their automatic paycheck, only needing a signed form," said Cashmere Valley Bank president, Greg Oakes. "When they get back pay, it will cover the advance."
    He stressed that it is simply a signed form, no fees or interest and the backup pay that will come eventually covers the payment.
    "We limited this to our customers only because it made it simple. To do this for everyone, there's too many regulatory issues," said Oakes.
    This is a way to lessen the harshness for those federal employees anxiously eyeing their bank account - and more than that, it emphasizes the degree that Cashmere Valley Bank is willing to support their customers beyond replacing lost debit cards or helping set up a new checking account.
    "This allows us to really support our customers and community," said Oakes.

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