2012 Loan Interest Due to the Federal Government

July 26, 2012

2012 Loan Interest Due to the Federal Government

Over 30 state unemployment agencies have had to borrow money from the federal government in order to replenish their own unemployment unemployment trust funds.  Last year, several of these states began to pay interest owed to the federal government. In 2012, the states listed below will owe over $874 million in loan interest only.  In order to cover loan interest payments, some states have assessed surcharge rates to employers.  To see if your state unemployment agency has introduced any of these surcharges, please visit your state’s page in our ‘State Info‘ section.

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NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.

New York Council of Nonprofits, Albany, NY

We were introduced to First Nonprofit through another housing authority. In our analysis and comparison to what we were paying the State, our first year savings was $5,800 plus. We have been with them since the end of 2008 and I am glad we have been. I consider them an arm of our HR department.

Kankakee County Housing Authority, Kankakee, IL

Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.

Illinois Network of Charter Schools

Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.

Hugh Parry, Retired President of Prevent Blindness America