First Command Financial Services, Inc. will extend direct deposit pay to Coast Guard clients and other financial support to ensure they avoid potential financial hardships during the government shutdown.

“The latest news reports on the government shutdown indicate that about 42,000 Coast Guard members won’t see their next paycheck until mid-January, and First Command is committed to doing all we can to ensure that our Coast Guard clients are not financially harmed by government actions or inactions that are beyond their control,” said Scott Spiker, chairman and CEO of First Command. “As we face another government shutdown, we again commit to help our clients and ensure their family finances are squared away.”

First Command will be offering assistance to all clients who the shutdown affects—but the situation is particularly hard on members of the Coast Guard—who earn modest salaries and spend weeks away on deployment.

“The Coast Guard is a military service of the United States at all times,” Bowen said. “However, since the Coast Guard is not a part of the Department of Defense, and it resides as a military service in the Department of Homeland Security, members of the Coast Guard will not be paid during the government shutdown,” said Charles “Skip” Bowen III, a member of the First Command Military Advisory Board. “This is not right. Just like the rest of the military, Coast Guard personnel deploy for long periods of time including overseas with thousands away from home at sea on Coast Guard cutters right now.

First Command is ready to address the possible financial difficulties that might arise during the government shutdown, including the following:

* Zero-interest payroll advances. The program is designed to ensure that payroll advances will be transparent to clients, who will see the usual direct deposit amount credited to their account.

* Loan assistance. The bank is prepared to work with clients on any loan payments.

* Penalty-free early certificate of deposit withdrawals. The bank will waive any early withdrawal penalties for clients who need to redeem a First Command Bank certificate of deposit prior to its maturity.

* Secured Lines of Credit. The bank will help clients use their non-tax qualified mutual fund as collateral for a low interest rate line of credit.

* Special handling of credit card accounts. The bank’s Visa cardholders will be offered priority processing for increases to credit limits and deferments of monthly payments. The bank will also waive cash advance fees during the shutdown.

“You only need to glance at the military pay tables to see that these Coast guardsmen do not make a great deal of money and many live paycheck to paycheck. Bottom line, Coast Guard families cannot go for long without pay,” said Bowen, who served as a 10th Master chief petty officer of the Coast Guard. “Many banks and financial services firms connected with the military such as First Command are trying to help. In addition, most of the military service organizations are taking a strong stand politically on behalf of Coast Guard members. I hope and pray that a resolution is found quickly. Our Coast Guard families deserve it.”