While we are in the midst of a declared public health emergency, we’re ready to help.
The NGFCU Emergency Loan is available to members who are impacted by emergencies that occur as a result of the COVID-19 pandemic. It offers members an affordable source of funds to help cover emergency expenses.
Emergency Loan Summary
- 0% APR* for the first 6 months, as low as 4.24% fixed APR after the introductory period
- Borrow up to $5,000 (subject to credit approval)
- Flexible repayment terms: From 12 months to 48 months
- No loan payment within the first 60 days
How to Qualify
Applicants must live or work in an emergency zone declared by the Federal Emergency Management Agency (FEMA), or declared as a "State of Emergency" by local or state officials. Additionally, applicants must belong to one of the following groups:
- Employee of Northrop Grumman Corporation (must provide a pay stub from Northrop Grumman Corporation dated within the last 60 days)
- Employee of Los Angeles Metro (must provide a pay stub from Los Angeles Metro dated within the last 60 days)
- Member of NGFCU for more than 90 days
Use our Loan Comparison calculator to sort through monthly payments, fees and other costs while comparing loan options.
* APR = Annual Percentage Rate. Rate adjusts to a fixed rate after six months. Rates accurate as of April 5, 2020. Rates are subject to change without notice. All loans subject to credit approval.
Loan Description: A closed end unsecured loan to assist members who are victims of an officially declared emergency ONLY. Member's residence or worksite should be in the declared emergency zone by Federal Emergency Management Agency (FEMA) or declared as a "State of Emergency" by local/state official. Loan payment example: $22.38 per month for each $1,000 financed at 3.41% APR for 48 months. 4.24% rate requires automatic payment.
Minimum Term: Twelve (12) Months or One (1) year.
Maximum Term: Forty-eight (48) months or Four (4) years with automatic payment.
Interest Rate Structure: Available only in fixed rate.
Disbursement: Deposit to any share accounts or check payable to member(s) or third (3rd) party.
First Payment: First Payment within 60 days from the date of funding.