INFORMATION & RESOURCES ON COVID-19 | May 5, 2020
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This Tuesday afternoon eNews has the most recent developments, news, and resources that MCU staff have collected. You can find the
links to past issues
on our website. Stay tuned, stay in touch, but most of all, stay safe.
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GUIDANCE, UPDATES, AND INFO YOU CAN USE
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CUNA ADVOCACY UPDATE:
CUNA's advocacy team remains ramped up as work continues on the next phase of COVID-19 relief legislation and the Senate returns to Washington (with the House set to reconvene next week as well). In the
Advocacy Update video
released Monday, CUNA Chief Advocacy Officer Ryan Donovan identified the "three things you need to know about credit union advocacy this week":
- NCUA Chairman Rodney Hood is advancing several credit union priorities.
- Phase 4 stimulus and recovery legislation is progressing.
- CUNA needs you to share the stories of how you've been helping your members to continue to effectively advocate on your behalf.
WEBINAR WITH NCUA AND TREASURY
: On Thursday, May 7 at 1:30 pm MDT, CUNA is hosting a free webinar with Chairman Hood, Treasury Deputy Assistant Secretary Gavin Beske, Cathie Mahon from Inclusiv, and other officials to discuss low-income status for credit unions and service to members of the military. On the tentative agenda are conversations on the benefits of the low-income designation, NCUA resources, secondary capital for low-income credit unions, and treasury resources for community and economic development.
Registration required
.
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MONTANA IS REOPENING, NOW WHAT?
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As businesses across Montana start to reopen, credit unions are looking at how and when to safely open lobbies and branches. We added a Reopening Resources section to our
COVID page
this week. It includes the Governor’s Phase 1 Directive, CDC Guidance on Cleaning, an FAQ by the State of Montana Joint Information Center, and more. Since our state is one of the first to start the process, information and resources are still limited, but we'll continue to add information as we receive it. Feel free to
contact Donya
if you have anything you think we should consider including.
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FILENE OFFERS SOME TIMELY HELP
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FINANCIAL MODELING WEBINAR:
Tomorrow — May 6 — at 10 a.m MDT, Mike Higgins will share his financial modeling projection tool that will help you see the financial impacts of the COVID-19 pandemic as it relates to your credit union's balance sheet. The tool can help you identify what you can (and should) do to help your credit union pivot into new strategies for the next 18-36 months ahead as we recover from this economic and public health crisis.
Get the details and sign up
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SPECIAL REPORT:
Last Friday, Filene published
the first part
in a research series on the COVID-10 pandemic's effect on workers and consumers … and what that means for credit unions. The report reviews the evidence (over 40% of small businesses have temporarily closed, more than 24 million people have filed for unemployment benefits, and three out of every five adults say their household has been financially impacted) and seeks to help credit unions understand how you can plan ahead and make a difference.
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TOGETHER TUESDAYS from THE FOUNDATION
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Get your dose of weekly inspiration in
the fourth episode
of The Foundation's Together Tuesdays. This week, Maria Martinez, president and CEO of Border FCU in Del Rio, Texas, discusses what inspires her and how important it is to make sure all members can be served during this difficult time, no matter what.
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NASCUS ACCOUNTING AND CYBERSECURITY SERIES
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Between May 12-27, NASCUS is offering two webinars series — one on accounting and one on cybersecurity — aimed at bringing credit unions up-to-date and helping you address issues that could affect your operations during the coronavirus crisis. The content and dates of each series are listed below; each session runs from 12 to 1 p.m. MDT.
- THE ACCOUNTING SERIES will look at loan modifications for credit unions (May 12), allowance for loan losses (May 19), and credit review (May 26).
- THE CYBERSECURITY SERIES will examine IT operations and cyber hygiene for a remote work force (May 13), risk assessment fundamentals during pandemic business continuity (May 20), and what to expect from cyber criminals and fraudsters (May 27).
The sessions are being offered at no charge, but advance registration by May 12 is required. You can register as a non-member —
contact Isaida Woo at NASCUS
with any questions.
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To make sure these important links stay at your fingertips, we're going to keep them at the bottom of this weekly email. If we introduce links above that we feel belong here, you'll see them in this list in the next issue.
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MONTANA-SPECIFIC RESOURCES
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This is an internal publication of Montana's Credit Unions intended for our affiliated credit unions and their official family. For more information, call us or visit our website.
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Montana's Credit Unions | 800-745-5547 | montanascreditunions.coop
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