As communities across the country grapple with the health and economic effects of the COVID-19 pandemic, America’s credit unions have been working diligently to assist consumers who may be facing financial hardship as a result of the virus and ensuing public safety measures.
CUNA President/CEO Jim Nussle released the following statement after meeting with the Credit Union COVID-19 Restart and Recovery Task Force.
“The COVID-19 pandemic and the ensuing economic crisis are having an obvious and substantial impact on the physical and financial well-being of credit union members, employees and volunteers.
“Credit unions, as the financial first responders of the crisis, have taken steps throughout the crisis to make sure branches and facilities are safe for members, employees and volunteers, and they are working with their members to make sure that they can weather the economic uncertainty. But the reality is that the economy will not recover until there is a substantial reduction in the spread of the virus.
“Wearing a face mask has been scientifically proven to help reduce the spread of coronavirus and is a straightforward way for individuals to protect themselves and others to help mitigate spreading the virus.
“Credit unions have embodied a “people helping people” philosophy for more than a century. In that spirit, we hope all credit unions will join us by encouraging all able members to wear a mask when inside a credit union.
“This small step will help slow the spread of the virus, protect members and financial first responders, and get the economy back on track sooner.”
From loan modifications, skip-a-pays, and no- or low-interest lines of credit, credit unions across the country have been working with members to find individualized solutions that mitigate the virus’s financial impact.
The Credit Union COVID-19 Restart and Recovery Task Force is a partnership between CUNA, the Leagues, credit unions and system partners designed to help inform credit unions as they weigh meeting consumer needs with ensuring staff and volunteer health.