Welcome to the CUInsight Minute, sixty seconds from our Publisher & CEO Lauren Culp with the top three of our favorite things from the week.
Mentioned this week:
*Happy Independence Day weekend!
Get a sneak peek at the 2020-2021 CUNA Environmental Scan
Lately, the majority of your focus has probably been on daily operations, but with the 2020-2021 CUNA Environmental Scan (E-Scan), available July 1, you can lean on credible insights from top industry experts to start guiding future plans. CUNA E-Scan offers forecasting on 10 major trends that are impacting the credit union industry. New this year, CUNA E-Scan will provide a Fall 2020 update as new trends evolve. (read more)
Prepare for PPP forgiveness
by HEATHER BOSENKO, LUCRO COMMERCIAL SOLUTIONS
Over the last few months, many lenders stepped up to assist with providing financial relief to thousands of small businesses when the economy began to feel the impacts of COVID-19. Loans made under the SBA’s Payroll Protection Program became the most viable option for business owners since the terms came with the added benefit of potential loan forgiveness. (read more)
10 tactics scammers use to trick credit union members
by DAVID VER EECKE, PSCU
Scammers are known for preying on victims’ vulnerabilities, such as financial hardship, fear and confusion. Given the particularly challenging circumstances surrounding COVID-19, people who believe they are savvy enough to avoid scams may fall victim, nonetheless. (read more)
As unemployment soars, imposter scammers target benefits claims
by ELIZABETH CARDENAS, SWBC
In the few short months since the novel coronavirus outbreak and ensuing social distancing measures started disrupting communities and economies across the globe, the unemployment rate in America has soared to levels not seen since the Great Depression. At the time of writing, the unemployment rate sits at 13.3%, which translates to roughly 21 million jobless Americans. (read more)