Federally insured credit unions should be certain they have policies that could help members in the event of a government shutdown and prepare for difficulties if the credit union has offices in federal buildings.
Those are among the pieces of advice that NCUA Chairman Debbie Matz gave in a letter to credit unions that the agency sent out last night.
Matz recommended that the agency have policies in place that give the credit union flexibility to provide assistance to members that would be impacted by a shutdown. She added credit unions should "prudently'' work with their members and take steps such as providing cash advances for those who receive direct deposits from the government.
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