NCUA Letter Outlines Steps Credit Unions Can Take During Pandemic

The NCUA offers credit unions more flexibility as disruptions mount with COVID-19.

The agency recognizes COVID-19 is impacting credit unions and their members to varying degrees. The letter outlines a number of strategies credit unions may consider when determining how to work with their members to address the impact of, and challenges associated with, COVID-19. The agency also provides FAQs. 

Additional information addressed in the letter: the NCUA is adding a section to its website for information related to COVID-19; limiting examination and supervision work over the next couple of weeks to offsite procedures only, with a few exceptions; effective March 16, 2020, through March 30, 2020, the agency has mandated telework for headquarters and regional office staff. Please click on the link below to view more.

NCUA Letter to Credit Unions