Through direct CUNA and League advocacy, credit unions will be able to better serve their members affected by the latest coronavirus disease (COVID-19) relief legislation. The bill, passed by the Senate late Wednesday, was amended [...]
Credit unions are taking to social media to share information with members during the COVID-19 outbreak. Rather than relying solely on words, Signal Financial Federal Credit Union in Kensington, Md., used a video message from [...]
While CUNA supports the majority of NCUA’s proposed rule on bank-credit union combination transactions, there are aspects not statutorily required, several of which may be problematic, CUNA wrote to NCUA Wednesday. NCUA is accepting [...]
When consumers drive 70% of economic activity, as they do in the U.S., any significant disruption to peoples’ lives will have a corresponding impact on the economy. That is certainly the case with the [...]
Federally insured, low-income designated credit unions that experience unexpected costs as a result of COVID-19 can request urgent needs grants from NCUA. “The NCUA recognizes that the COVID-19 outbreak will affect all federally insured credit [...]
O Bee Credit Union in Lacey, Wash., is a 45 minute-drive from the Kirkland, Wash., nursing home that was the initial epicenter of the coronavirus outbreak. The area’s credit unions were among the first [...]
It is vitally important credit unions be designated essential services during the coronavirus disease (COVID-19) pandemic, CUNA wrote to state leadership organizations Monday. The Treasury issued guidance earlier designating financial services as essential critical infrastructure [...]
As the coronavirus (COVID-19) outbreak continues, credit unions are assisting members financially strapped due to a loss of income. Solutions range from emergency loans to deferred loan payments, and waived fees. “We’re here to [...]
Social media is a quick way to amplify the impact credit unions have on their communities and to share information about business operations. Here are some tips for using social media to reach your members. [...]
Sen. Sherrod Brown (D-Ohio), ranking member of the Senate Banking Committee and Rep. Maxine Waters (D-Calif.), chair of the House Financial Services Committee, have echoed CUNA’s call for a pause in rulemakings from federal [...]
Credit union leagues throughout the country are helping their member credit unions find collaborative solutions to the COVID-19 threat. Tom Kane, president/CEO of the Illinois Credit Union League, says he spends much of his [...]
The Financial Accounting Standards Board (FASB) should delay implementation of the current expected credit loss (CECL) standard to at least January 2024, CUNA wrote to FASB Wednesday, as credit unions are currently focusing on serving [...]
The coronavirus outbreak, while first and foremost a humanitarian crisis, will have a substantial financial impact on credit unions and their members. While the extent of that impact isn’t clear, Mike Schenk, CUNA chief [...]
As Congress and the Administration respond to the coronavirus disease (COVID-19) crisis, credit unions and banks will continue to offer assistance to customers directly affected, wrote CUNA and other financial services trade organizations. CUNA and [...]
NCUA issued a letter to credit unions (20-CU-02) Monday outlining the agency’s actions related to the coronavirus (COVID-19) pandemic. “The NCUA recognizes there may be other accommodations that could assist members and communities in [...]
