The coronavirus outbreak, while first and foremost a humanitarian crisis, will have a substantial financial impact on credit unions and their members.

While the extent of that impact isn’t clear, Mike Schenk, CUNA chief economist/deputy chief advocacy officer, says one approach will keep credit unions on the right track: Be flexible and continue to engage with and assist members to the best of your ability.

This episode of the CUNA News Podcast examines the potential impact of the pandemic on the economy, credit unions, and consumers; how near 0% interest rates will affect credit union operations; lessons from the Great Recession; and more.

• Schenk: Exercise caution when responding to the crisis
• Ongoing coronavirus coverage
• Take the CUNA/AACUL COVID-19 response survey
• Visit CUNA’s COVID-19 resource page

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Spotify, Google Play, and Stitcher Radio.