Since the onset of the crisis, CUNA leaders have spoken with Hood several times, and CUNA and Leagues have also provided the agency with input on additional policies to help increase member service, several of which NCUA has acted on.
NCUA has allowed military personnel to count toward the low-income credit union designation, issued guidance on remote and virtual board meetings, implemented a rule to relax appraisal requirements, acted quickly to expand the Central Liquidity Facility and other actions since the onset of the pandemic.
“Notwithstanding the breadth and depth of the action NCUA has taken so far to help credit unions weather this crisis, more needs to be done,” CUNA’s letter reads. “We take this opportunity to highlight several areas where NCUA and Congress should take action to ensure that credit unions remain in a position to serve their members during this crisis and into recovery.”
Recommendation actions from the NCUA include:
CUNA also provided a list of recommendations for Congressional policies, including: