As a Jesuit institution with a long commitment to the Catholic ideal of the common good, Loyola University Maryland is committed to helping its faculty, administrators, and staff deal with personal crises, be they health-related, emotional, or financial. To address our employees’ financial emergencies, the University has established the Financial Crisis Assistance Fund in collaboration with the Govans Ecumenical Development Corporation (GEDCO), a faith-based organization that meets the emergency needs of area residents, including members of the Loyola University Community.
To request assistance, an employee should contact their HR Partner; if you are unsure of who your HR Partner is, you can reach out to the Program Assistant at ext. 1370. Human resources will assist the employee in completing a referral for GEDCO (Govans Ecumenical Development Corporation) CARES services and, if appropriate, the University’s established Employee Crisis Assistance Program. If the employee’s need and request meets the CARES criteria, he or she will receive a CARES grant and/or referrals to other appropriate agencies. If the employee’s need exceeds the amount of the CARES grant and available assistance from other agencies, CARES will refer the employee to the Loyola Financial Crisis Assistance Fund for consideration for a supplemental grant or loan through First Financial Federal Credit Union.
The Fund will be administered by the office of human resources and all grant decisions will be made by the Financial Crisis Committee. Funds provided by GEDCO CARES and the Crisis Assistance Fund are grants and do not need to be repaid. While the Fund is supported by the University, it will accept individual employee contributions.
Loans are underwritten through an agreement between the University and the First Financial Federal Credit Union. The employee must be a member of the First Financial Federal Credit Union, or be willing to become a member of this organization, in order for the loan to be repaid by the employee through authorized direct deposit from wages of the employee to the First Financial Federal Credit Union.
For more information on the Crisis Assistance Fund and other programs designed to address employee emergencies, please contact the office of human resources at ext. 2354.