The League of Southeastern Credit Unions (LSCU) launched the Coronavirus Preparedness Resource Area, available on its website to member credit unions. The site includes information about the virus and its spread, business continuity and disaster recovery, protection and prevention, member support, and tools to communicate effectively about the virus.
The league provides weekly updates for member credit unions, and will host a webinar about the coronavirus threat on Friday, March 20.
“The League of Southeastern Credit Unions & Affiliates continues to actively monitor and respond to the coronavirus (COVID-19) pandemic,” says Patrick LaPine, LSCU president/CEO. “Our internal LSCU Coronavirus Task Force has been meeting regularly to ensure the safety of our team members and business continuity across all functional areas.
“These are unprecedented times for our nation and world,” he continues. “LSCU & Affiliates is committed to providing our member credit unions with access to resources and assistance to help them navigate the current crisis.”
LaPine says the league has challenged its employees to think about their positions differently and how to pivot to meet the needs of its member credit unions.
“From crisis comes opportunity,” he says. “Credit unions are well positioned to show leadership in our communities and to assist Americans impacted by this crisis. It’s time for us to do what we do best: people helping people.”
The Heartland Credit Union Association has set up a resources page it updates daily for its member credit unions It includes links to health organization websites, state-specific health departments, industry guidance for credit unions, scam information, and more.
For the next seven days, the association will limit communication to its members to only Coronavirus/COVID-19 related information. This includes social media posts. After seven days, the league will determine if this should continue.
Every Monday, the league will send an email update from President/CEO Brad Douglas to member credit unions.
Leaders from member credit unions have inquired with the league about what other credit unions were doing during the current health emergency. As a result, the Heartland Credit Union Association is connecting credit unions via hour-long conference calls to share ideas and experiences.
The league hosted six calls on Tuesday with three more scheduled for Wednesday. It will continue scheduling these calls as needed.
“During this uncertain time, it’s more important than ever to do what our industry does best: help people,” Douglas says. “This constantly changing situation has affected everyone one way or another, and we are making every effort to keep in touch with our credit unions and assist and support them in any way possible.”
The Iowa Credit Union League is providing resources and serving as a hub for collaboration with its membership, says Andrea Dose, director of member services.
The league is in close contact with its state regulator and local government agencies, relaying information to credit union leaders as new information and programs become available, she say.
The Iowa League has a web page that provides links to resources for credit unions. Late this week, it will begin hosting a series of virtual roundtables for credit unions to collaborate and share best practices.
These virtual meetings will feature experts from human resources, operations, and regulatory compliance to answer questions and offer guidance.
The Iowa Credit Union Foundation Board voted to create an emergency relief fund to help Iowans financially impacted by the pandemic. More information about this will be available soon.
The Ohio Credit Union League (OCUL) has leveraged a dedicated COVID-19 resource center and its biweekly newsletter, eLumination, to equip member credit unions with the latest information and tools.
OCUL has connected its members to business continuity model policies and compliance support to answer questions around COVID-19.
League advocacy efforts have shifted to minimize the economic severity for credit unions and their members and member businesses. This includes encouraging NCUA to move to remote or delayed examinations, apply capital forbearance, and permit virtual board and membership meetings.
OCUL is working with the Ohio congressional delegation to fully fund the Community Development Financial Institutions and Community Development Revolving Loan Funds to immediately infuse capital into the market to ease lending and service barriers for credit unions.