MARQUETTE, Mich., January 24, 2019 – mBank together with Northern Initiatives and Eagle Mine through the Lundin Foundation have partnered to create a Federal Employee Assistance Loan program to help those being impacted by the government shutdown. The three entities have pooled resources for a special loan program, available to current federal employees either being furloughed or working without pay as a result of the current government shutdown and that live or work in Marquette County.
“We want to thank mBank and Northern Initiatives for spearheading this program for our community,” said Matt Johnson, External Relations Manager at Eagle Mine. “We are proud to partner with both organizations to help those being impacted by the shutdown and in turn, help the Greater Marquette Area by providing some financial relief.”
The special Federal Employee Assistance Loan program will offer 0% interest with $0 fees to federal employees whose pay has been impacted by the government shutdown. Full program details and eligibility can be discussed by speaking with an mBank lending specialist.
Clay Peterson, Executive Vice President for mBank commented on the new loan program, “We realize that the Government Shutdown is causing many people financial pressure right now and we wanted to offer some assistance. We are grateful to both Northern Initiatives and Eagle Mine for their partnership in this program. Our hope is to lessen the financial impact on affected families in our area. This will not only help reduce stress but will help protect their credit.”
“Our work at Northern Initiatives is to help people build opportunity,” said Dennis West, President for Northern Initiatives. “We are pleased to be able to support our local Federal workers through this unique partnership. Our design of an investor, a bank and philanthropic support is a great model that other communities could adopt. We are thrilled to partner with mBank and Eagle Mine in helping more people to avoid economic harm and make it through the stresses this must be causing for Marquette families."
For more information on the mBank/Northern Initiatives/Eagle Mine Federal Employee Assistance Loan please contact mBank at 906-226-5000 or visit the mBank Marquette Washington branch location at 857 W. Washington Street, Marquette.
Headquartered in Manistique, Michigan, mBank proudly serves Michigan and Northern Wisconsin with 29 branch locations. With assets in excess of $1.30 billion, the community bank empowers individuals and small to medium sized businesses with smart financing and depository solutions for peace of mind. For more information, visit: bankmbank.com. Member FDIC. Equal Housing Lender.
About Northern Initiatives
Northern Initiatives is a non-profit Community Development Financial Institution that is based in Marquette. NI has made over 1,100 loans focusing on making small business loans and offering know-how to people who are looking to start or grow a business. We have previously partnered with mBank on several loans, and with the Eagle Mine in the creation of the Eagle Emerging Entrepreneurs Program.
About Eagle Mine and the Lundin Foundation
Eagle Mine is an underground, high-grade nickel and copper mine located in western Marquette County and a subsidiary of Lundin Mining. The Lundin Foundation works to create jobs, stimulate the economy, train workers and improve livelihoods for those living at or near the bottom of the economic pyramid. They design and implement strategic initiatives through the provision of capacity building, targeted technical assistance and performance-based funding. Since inception, the Foundation has disbursed $67.5 million in support of building resilient communities.