TEMPE, Ariz. — The administration at Arizona State Universityexpressed thanks Tuesday to the $1 billion Arizona State CreditUnion for devising a “rescue” loan package to aid employees whohave undergone financial hardship following a payrollconversion.
|“You could say our presence on all three campuses and ourrelationship with the university created a natural connection tocreate a loan solution for employees facing a missed paycheck,”explained Paul Stull, senior vice president of Arizona State ofGlendale.
|The CU provided a 2.9% loan with a six-month term and accordingto the university, 50 of the loans have been extended with moreexpected.
|“We do appreciate the loan program,” said a spokeswoman for theuniversity administration. ASU, the largest college in metroPhoenix, has 15,000 employees.
|Following a flurry of negative press articles about software“glitches” and students missing their pay check to meet dailyneeds, the ASU Human Resources department set up an employee helpcenter and recruited CU employees to help staff it in July.
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