Leadership
Outreach during the outbreak
Credit unions take to social media to share information with members.
When to expect an economic rebound
Economists weigh in on the downturn’s expected severity and duration.
PODCAST: CUNA economists provide an updated forecast
Outbreak has created rapid, widespread, and severe economic disruption.
Providing the ‘sustenance in life’
CDC Federal remains committed to being available for members.
‘Unprecedented time’ calls for aggressive initiatives
CU SoCal gives $1,000 to each employee, conducts wellness checks.
Leagues foster collaborative solutions to threat
Credit unions are well-positioned to show leadership and assist Americans.
Exercise caution when responding to crisis
Let your capital absorb short-term dislocations.
CUNA provides suggestions to NCUA to help CUs meet coronavirus needs
Steps recommended to alleviate financial strain and disruption.
CU members to benefit in latest coronavirus bill
Bill was amended to include credit unions in several provisions.
Strong, specific guidance needed on expanded 7(a) program
Detailed materials will allow lenders to effectively process new loan applications.
Amid COVID-19 crisis, credit unions providing CU difference for members
Survey results show credit unions are working to help consumers.
House Financial subcmte leaders echo CUNA call for CECL delay
Closures of cities around the country deepen the need for credit.
NCUA urgent needs grants available to help CUs affected by COVID-19
Grants up to $7,500 for low-income credit unions available.
5 Financial Steps You Can Take To Prepare For Coronavirus
What you can do to be financially responsible and vigilant during this time
CUNA, AACUL launch revamped CU COVID-19 response center
Portal intended to help credit unions balance community service with employee safety.
CUNA, trades share credit reporting concerns w/ Congress
Suppression of adverse information could undermine safety and soundness.
CUs must be designated essential services on state, local level
CUNA’s letter urges state leadership to include credit unions in any policy.
Donovan provides COVID-19 update: CUs are part of solution
Top priority is keeping employees, volunteers, and members safe.
CUNA postpones events through May 15
In response to growing concerns over COVID-19, CUNA is postponing schools and conferences.
CUNA brings immediate CU concerns to Congressional cmte leaders
Survey shows credit unions have three immediate concerns.
CUNA/Leagues seek stories of CUs meeting members' coronavirus needs
As credit unions prepare to offer services to members affected by the coronavirus, CUNA and Leagues are seeking information on exactly how credit unions are meeting member needs as they arise.
SBA to provide up to $2 Million in disaster assistance loans
The agency will provide up to $2 million in disaster relief loans for small businesses affected by the coronavirus disease (COVID-19).
Operations
Keep members safe from coronavirus scammers
Share 3 tips to safeguard members from COVID-19-related fraud.
Removing childcare worries
SC Telco offers onsite care for employees’ children during pandemic.
PODCAST: O Bee Credit Union’s pandemic response
CEO James Collins on navigating the COVID-19 crisis.
Social distancing creates staffing, service challenges
Remote workers, closed lobbies becoming the norm.
‘Keep members’ best interests at heart’
Credit unions meet members’ needs during pandemic.
Reaching people through social media
Social media is a quick way to communicate with members during a crisis.
POPi/o offers free video member service option
Technology offers alternative touchpoint during pandemic.
FTC issues warning about COVID-19 money scams
Several important things consumers should know.
Technology enables member service
Drive-thrus, digital options allow access to account transactions.
Shielding members from COVID-19 fraud
Fraudsters use a variety of tactics to exploit fears about the virus.
Credit unions keep members, staff safe during pandemic
Increased cleaning, events cancelled as organizations prepare for disruption.
Health threats test business continuity planning
Check your plan and make training a lifeline.
Compliance
Legislators, regulators echo CUNA call for CECL delay
“CECL should not be adopted during the current coronavirus outbreak.”
90-day BSA reporting extension needed during COVID-19 pandemic
Many compliance officers are working remotely and do not have reporting portal access.
Additional relief actions needed from NCUA, say CUNA, Leagues, CUs
CUNA followed up its March 12 letter to NCUA with supplemental recommendations.
FinCEN issues statement on COVID-19 response
Financial institutions encouraged to keep FinCEN and their functional regulators informed.
NCUA announces annual meeting flexibility
Federal credit unions may adopt amendment without further bylaw approval processes with NCUA.
Administration support for CU priorities would increase services during pandemic
There are statutory and regulatory accommodations needed to ensure credit unions can continue to meet the financial services needs of their members impacted by the coronavirus.
Compliance: NCUA issues update on COVID-19 response
NCUA issued a letter to credit unions outlining the agency’s actions related to the coronavirus (COVID-19) pandemic.
Remittance changes would help mitigate coronavirus effects
The Consumer Financial Protection Bureau (CFPB) should quickly finalize its proposal amending the Remittance Rule.
Nacha issues ACH reminder to FIs potentially impacted by coronavirus
Nacha issued an Operations Bulletin this week reminding financial institutions of the importance of reviewing their business continuity plans.
