There are statutory and regulatory accommodations needed to ensure credit unions can continue to meet the financial services needs of their members impacted by the coronavirus (COVID-19), CUNA wrote to President Donald Trump Monday.
“Credit unions are open for business and serving their members. Their top priority right now is keeping their members, volunteers and employees safe and healthy, and remaining in a position to serve members and the community during and after the crisis,” the letter reads. “More than 2,100 credit unions, serving nearly 46 million members, have a primary field of membership that includes schools, military, health care, police, fire, transportation, utilities and government employees. These credit unions and others are serving members who are on the front lines of helping to keep others safe during this crisis. Of course, since this crisis will impact everyone, every credit union will be impacted.”
Given the severity of the crisis and the need for quick action by the administration, federal agencies and Congress, CUNA asked the administration to support the following requests: