Illinois State Treasurer Michael Frerichs is committing $50 million to fund zero-interest and low-interest loans to unpaid federal workers during the government shutdown. The loans will be issued through participating banks and credit unions across Illinois with money made available through the Treasurer’s linked-deposit program. An estimated 153,000 federal employees live and work in Illinois. It is uncertain how many are not receiving their salaries since Oct. 1, when the shutdown began. Great Lakes Credit Union, with 20 branches across Chicagoland and Danville, is a participating lender. Here’s how the no-interest loan program works: The Illinois Treasurer deposits money in financial institutions for the specific purpose of helping unpaid federal workers. In turn, the financial institutions loan that money to federal workers at below-market rates. The Treasurer’s Office will deposit money at 0.01 percent if the financial institution agrees to loan out the money to federal workers at zero percent. Other rates might also be available. Specific rates and terms of eligibility will vary by financial institution. Financial institutions interested in participating in the Federal Workers Emergency Loan Program must become an approved depository. Interested parties are encouraged to contact the Treasurer’s Office at investinillinois@illinoistreasurer.gov.