Congress is poised to add as much as $300 billion to the Paycheck Protection Program (PPP) this week, CUNA Chief Advocacy Officer Ryan Donovan said in this week’s advocacy update video. CUNA wrote to Congressional leaders Sunday calling for additional funds and a set aside for small lenders.
Donovan also highlighted last week's action alert from CUNA and Leagues to call on stakeholders to contact their elected officials to fund the PPP.
CUNA is also engaging Congress on credit union priorities for the fourth phase of coronavirus disease (COVID-19) relief legislation, and a letter sent last week outlines credit union priorities, including:
The fourth phase of legislation is expected to be considered when Congress returns in May.
He also urged credit unions to make sure they fill out CUNA’s COVID-19 survey (including updated products or offerings for credit unions that filled it out previously), as the survey results are a strong piece of CUNA’s advocacy efforts when working to advance credit union priorities.
The survey can be found on the CUNA/American Association of Credit Union Leagues COVID-19 Response Center.