news.cuna.org/articles/117465-cuna-aacul-launch-revamped-cu-covid-19-response-center
COVID19

CUNA, AACUL launch revamped CU COVID-19 response center

March 24, 2020

As credit unions grapple with the ongoing coronavirus disease (COVID-19) pandemic, CUNA, in partnership with the leagues, is providing several resources for credit union professionals through the CUNA/American Association of Credit Union Leagues (AACUL) COVID-19 Response Center.

With tools to assist with business continuity and pandemic response, compliance concerns, cybersecurity threats, remote banking and external communications, this portal is intended to provide credit unions of every asset size with information that will help in their efforts to balance community service with employee safety.

“In every state of the nation, credit union employees are serving as the financial first responders for millions of consumers who are facing uncertainty amid the growing health emergency,” said CUNA President/CEO Jim Nussle. “For credit union leaders who are busy in their efforts to keep communities financially and physically healthy, the Response Center can serve as a one-stop shop to find the tools and guidance to make informed leadership decisions.”

In addition to updated public health and regulatory guidance, this page warehouses tools to enhance communications with credit union members and local media, essential employee letter templates, and links to League resource pages.

The Response Center also compiles many of the advocacy efforts undertaken to ensure that credit unions can effectively serve their members during this crisis, as well an ongoing status report of CUNA events scheduled throughout the spring.

The site also includes early data from the CUNA/League COVID-19 assistance survey. Highlights include:

  • 92% of credit unions surveyed are offering modifications to existing loans,
  • 85% are offering fee waivers, and
  • 76% are offering new loan products.

Survey response collection is ongoing (responses can be submitted here), with data subject to change.