INFORMATION & RESOURCES ON COVID-19 | March 24, 2020
The information about COVID-19 and its implications for credit unions as essential providers of financial services, small businesses, and employers is coming fast and furious ... It's hard to stay on top of the news and the updates. We are here to help. MCU staff will be curating the developments, news, and resources and sharing our collection with you in this eNewsletter each Tuesday afternoon as well as in our Friday President's Report. Thanks for all you're doing to help your staff, members, and communities.
GUIDANCE, UPDATES, AND INFO YOU CAN USE
REGULATOR GUIDANCE
Montana credit union CEOs will have the opportunity to connect with NCUA Western Region Director Cherie Freed and Montana Commissioner of Banking Melanie Hall this afternoon. The call will give them all a chance to discuss the current situation with COVID-19 and ways they are adjusting, and being allowed to be flexible in serving members. In addition, NCUA issued a second Letter to Credit Unions on Friday offering options for federal credit unions on annual meeting delay and quorum. The Division of Banking also issued guidance to state-chartered credit unions on Friday. It offers suggestions on working with members, and a new model bylaw option for allowing the credit union’s board to change the timing of the annual member meeting. We appreciate the messaging and availability of your regulators during this time!
URGENT NEEDS GRANTS AVAILABLE FOR CREDIT UNIONS
Yesterday, NCUA announced that federally insured, low-income designated credit unions that experience unexpected costs as a result of COVID-19 can request urgent needs grants from the agency.
CUNA IS BUSY WORKING ON OUR BEHALF
CUNA sent this letter to the national offices of the NGA, NAAG, NAST, League of Cities, NCSL, and ALEC expressing the importance of designating credit unions as an essential function for states/localities during the COVID-19 pandemic. You’ll note Montana’s AG Tim Fox was one of the recipients.
 
The League/CUNA advocacy team activated over the weekend to engage in the development of the Senate Phase 3 Stimulus package. We’re still waiting to see the final version of this bill, which continues to be subject to negotiation. For a full recap of the advocacy steps that have been taken, take a look at a short briefing Ryan Donovan, CUNA's chief advocacy officer, posted yesterday.
CDC UPDATES EMPLOYER GUIDE
The Centers for Disease Control just updated its Employer guide to include the following:
  • updated cleaning and disinfection guidance
  • updated best practices for conducting social distancing
  • updated strategies and recommendations that can be implemented now to respond to COVID-19
HEALTH INSURANCE TRUST WEBINAR
Yesterday, the credit unions in the MCUL Group Benefits Health Trust had a COVID-19 update call with Dr. Makary and Cori Cook about health care coverage and HR concerns. They shared some pertinent information. If you would like to listen to the discussion, here is the link (the discussion starts around minute 2). And, Cori sent us additional guidance that addresses the changes to law following the passage of House Bill 6201. Please note, the highlighted details relate to all credit unions. The items that aren't highlighted apply to credit unions that are part of the Trust or any other self-funded group.
MILLENNIUM CORPORATE CREDIT UNION
"For all intents and purposes, it's business as usual at Millennium Corporate Credit Union." So started the email that our corporate credit union partner sent out yesterday to update members on the measures they are taking to meet credit union needs, including any liquidity needs you might have. If you have questions or concerns, give them a call at 800-721-2677.
CUNA MUTUAL GROUP RESPONDS TO COVID-19
INCREASED PREMISES LIMITS: In order to support its bondholders with cash management, CUNA Mutual Group has automatically increased the "on premises limits" for its bond policyholders by $500,000. (This includes ATMs that are in or up to 500 feet from your offices.) The increases is effective until May 18 at midnight and provided at no charge.

RISK ALERTS: The Risk and Compliance Team has published several COVID-19 risk alerts that you might find helpful: Coronavirus Opens Doors to Scams , Coronavirus Outbreak Requires Precautionary Workplace Measures , and COVID-19 Outbreak Risk Overview .
COVID-19 RESOURCES
MONTANA-SPECIFIC RESOURCES
NATIONAL RESOURCES
Montana's Credit Unions - Educate Advocate Collaborate
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.