At PayPal, our values are not just printed on a wall somewhere, they drive our actions. Whether it’s fighting discrimination, standing up against hate, or working hard to build an inclusive workforce, our values are clear and drive our everyday behaviors. None of these acts or initiatives are ever fueled by politics, they are always a matter of values.
Our values are the catalyst behind our latest initiative: stepping up to help federal workers who are impacted by the shutdown. No matter where you stand on the issues, the fact is that 800,000 of our fellow Americans suddenly find themselves without a paycheck. With the average government employee taking home roughly $500 a week, many people were already struggling before the shutdown. There are bills to be paid, groceries and gas to be bought, families to support. These needs grow more urgent with each passing day.
Starting immediately, PayPal is offering an interest-free cash advance up to $500, the equivalent of one week’s take home pay, for any existing or new PayPal Credit customers who are federal employees, and are struggling to make ends meet. We have committed to fund up to $25 million of interest-free cash advances to help federal government employees pay for food, gas, and other everyday necessities. The program has been brought to life with the help of our partners at Synchrony and we hope that it can provide some relief and certainty in uncertain times.
I want to make sure as many affected federal employees as possible know about our program and take advantage of it. Please share this link with friends, family, or anyone in your extended network who may be impacted. The website 211.org also provides an extensive list of resources and services that companies are providing for those affected by the shutdown.
This is an example of companies having both the opportunity and the responsibility to step forward and help. Our mission at PayPal is to help drive financial health for all citizens. This is a time to put our products to purpose-led use, supporting the people around us who suddenly find themselves in a difficult spot. We’ve seen companies like AT&T, Wells Fargo, Kraft, Chase, and others offering assistance, and we are proud to stand with them for those who contribute so much to our public sector.
Dan Schulman, President and CEO, PayPal
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