5
things to know on coronavirus
NAFCU's widely-read NAFCU Today
is credit union leaders' go-to source for the latest on issues impacting
the credit union industry. For those short on time, here's a roundup of this
week's top need-to-know updates and resources related to the coronavirus pandemic.
CUs:
Share your experience with Congress, oppose efforts that could harm industry
NAFCU remains committed to ensuring a regulatory and legislative environment that
allows credit unions to serve members and thrive throughout coronavirus relief
efforts. In a new message to members, NAFCU Director of Political Affairs Chad
Adams encouraged credit unions to join the association in its advocacy to push
back against legislative efforts that could harm the industry.
Berger
to Americans: Stand together during coronavirus pandemic
"The
challenges that lay ahead are no match for the will and perseverance of the American
spirit. This belief has never been truer than it is today," wrote NAFCU
President and CEO Dan Berger in an editorial published in CEO World.
Updated Compliance-Related
FAQs Regarding COVID-19
Questions on how the coronavirus pandemic
impacts credit unions are answered here
Compliance
Blog roundup: Skip-a-pay, new paid leave requirements, NCUA webinar, more
NAFCU's award-winning Compliance Team is working around the clock to publish
new Compliance Blog posts daily, Monday-Friday, to keep credit unions informed
of important regulatory updates during the coronavirus pandemic. Here is a roundup of this week's blog posts.
10M
unemployment claims filed in past 2 weeks; CUs asked for insights into coronavirus impact
The Labor Department's initial unemployment claims estimate for this week
increased significantly to 6 million. Combined with last week's initial claims,
10 million Americans have applied for unemployment, which NAFCU Chief Economist
and Vice President of Research Curt Long noted is "over 6 percent of the labor force."
What
to know about leading during a crisis
NAFCU is offering a free webinar
next week to help credit unions operate successfully during the coronavirus pandemic.
As many operations move online and in-person interaction is limited, this webinar
will guide leaders to keep strong connections with employees and members.
Vehicle sales collapse in March
Total vehicle sales plummeted from February's rate of 16.7 million annualized
units to 11.4 million annualized units in March. Monthly sales levels were down 34.1 percent versus March 2019.
