How 11 industry-leading credit unions have responded to COVID-19

Leading a credit union – or any organization – has perhaps never been more difficult than with the onset of the COVID-19 pandemic. And, in the case of credit unions, perhaps demonstrating leadership in financial services has never been more critical.

We asked the eleven members of CO-OP’s Board of Directors, leaders of prominent credit unions across the country, to share their perspectives on how they have responded to COVID-19. All of them, as you might expect, deferred enormous credit to their employees for rising to the challenge and acting as #CreditUnionHeroes during these uncertain times.

Perspectives from the CO-OP Board of Directors:

On the member front, we split into project teams and quickly rolled out parts of a relief package. We implemented Skip-A-Pay for consumer loans and credit cards, modified mortgages, ramped up emergency relief loans, slashed late fees and NSF fees, and tweaked mobile deposit limits. On top of all that, our Foundation identified nonprofits in the community that were making immediate impact, and provided them with nearly $700,000 in grants.

– Chuck Purvis, President & CEO, Coastal FCU (Board Position: Chairperson)

 

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