Supporting your members throughout COVID-19: Best practices for your credit union

This weekend brought a new level of uncertainty and concern around the coronavirus (aka “COVID-19”) and its potential impact on the economy and business continuity. While our members are in the midst of making difficult decisions about whether to travel, go to work, or stock up on supplies and groceries, it is important for them to feel confident that their credit union is supporting their overall health and financial safety.

As the situation unfolds over, here are a few helpful tips and reminders to ensure your credit union is well-prepared to deal with COVID-19. We’ll also be sharing some ideas for payments-related offers and campaigns you can run to help support your members financially during this difficult time shortly.

  1. Encourage Members to Leverage Your Digital & Mobile Tools

As CDC guidelines mandate increased “social distancing,” now is the time to encourage your members to utilize their self-service banking channels. If you’re one of 87 percent of credit unions that offer banking services to their members through a mobile app, remind members that they are empowered with tools to support their daily financial lives, whether it’s making payments, viewing transaction activity, or finding a CO-OP ATM. 1

 

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