•July 15, 2015•

Interest-free loans will be available to state workers if the budget impasse means payroll checks will not be issued beginning July 15, Illinois Treasurer Michael Frerichs said today.
The loans will be issued through participating credit unions with money made available through the Treasurer’s Office linked-deposit program. Linked deposits provide financial institutions money for specific loan programs.
“The Treasurer’s Office uses tools to help our residents achieve more, such as saving for college, investing in a business, or planning for retirement,” Frerichs said. “This linked-deposit program is a tool that provides short-term loans for workers while the Governor and General Assembly resolve their differences.”
The state’s fiscal year ended June 30. The absence of a budget agreement means the state does not have the authority to pay certain bills, such as wages to some state employees.     Login or Subscribe to read the rest of this story.