![]() An employee may prepay all or any part of their loan balance at any time.The employee must provide a W-9 statement with the Taxpayer Identification Number and mailing address of the business to be paid. The University does not make payment to or reimburse an employee.Examples include a family medical emergency, threatened foreclosure or eviction from a primary residence, or termination of utilities. There may be occasions when emergency circumstances, defined as unforeseen, unplanned, and unavoidable events, demand immediate attention and require an employee to secure funds on short notice. Under the program, employees may request an emergency loan for reasons of severe financial hardship for which the employee has an immediate need for financial assistance.Under no circumstance will an employee receive more than one emergency loan at a time. Employees are limited to one loan per year and three loans during their career at the University.Minimum repayment of $30 per bi-weekly pay period ($60 per monthly pay period).The University may approve loans up to $1,500 per employee.Employee provides documentation of a true emergency that was not caused by negligence or lack of attention by the employee.Employee must have demonstrated strong performance in the current position. ![]() One year of continuous service in a permanent full-time capacity, immediately prior to requesting a loan (temporary employees are not eligible for this program).The University may approve loans to regular full-time employees if the following conditions are met: The program is not intended to compete with local credit unions or other lending institutions it is intended to fill the needs of University employees that are not being met by those sources. The purpose of this program is to provide loans to employees who have an immediate need for funds as the result of an emergency and have no other source of money available within the time necessary to act, or who have a dire personal financial hardship and cannot obtain a loan from a credit union or comparable lending institution. The University has created a mechanism to issue short-term (up to one year) emergency loans to eligible employees. Benefits for 10-Month Contracted Staff & 9-Month Contracted Faculty.Resources for Flexible Work Arrangements.Education Benefits for Disabled and Retired.Exports: Associated Colleges of the South (ACS).Imports: Associated Colleges of the South (ACS).Retirement Plan Administrative & Investment Committee.Sick Leave to Vacation Conversion Policy.Approve Vacation & Sick Leave to Vacation Conversion.Manage Performance and Develop Employees.Uniformed Services Employment and Reemployment Rights (USERRA).Understanding the Fair Labor Standards Act (FLSA).Guidance for Staff Members on the University Statement on Free Expression.
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