This story will be updated.
EAGLE COUNTY — Alpine Bank is helping furloughed federal workers pay their rent and mortgages, and has set aside $5 million to do it.
Furloughed federal workers missed their first paychecks Friday, the result of a continuing partial federal shutdown. That shutdown has affected the U.S. Forest Service, the Bureau of Land Management and other agencies.
Continuing a program begun during the mid-1990s, Alpine Banks throughout Colorado will provide interest-free loans to furloughed federal workers. Those employees need to go to an Alpine Bank office, present a state ID, a federal ID and a copy of a federal pay statement or bank statement. Employees can receive money the day they apply.
Michael Brown, Alpine Bank Regional President for the Vail Valley and Steamboat Springs, said program participants will have six months to repay the loans.
“We welcome those affected federal workers, whether they’re customers of Alpine or not,” Brown said. “We’ll loan them their next paycheck, and no collateral is required.”
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Brown said the bank is taking on this program due to the way the shutdown affects communities. Federal workers are “part of our community,” Brown said. “It’s time to cut through the party politics.”
