On Wednesday, more than 200 credit union professionals from 90 credit unions tuned into an hour-long webinar hosted by the Cooperative Credit Union Association, which focused on the growing health and business effects of the coronavirus and how credit unions can manage those challenges.
CCUA’s webinar featured a panel of experts who spoke on COVID-19’s health, human resources, business continuity and IT issues.
“As credit unions weigh the information and make decisions about travel, meetings and sick time for employees, they are also considering the impact of COVID-19 on their ability to efficiently, effectively and safely serve their members,” the CCUA reported in its Daily Scan newsletter to members.
Some of the options that were discussed included branch closures, consolidating operations, promoting online transactions and having employees work remotely, which raised questions about logistical and technological capabilities.
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In addition to reviewing and updating pandemic policies and procedures, the panel agreed that it is important for credit unions to regularly communicate with employees and members to allay their concerns about the coronavirus.
The recorded webinar is available on CCUA’s Coronavirus Resource page, https://www.ccua.org/coronavirus/, which also lists information about recommended preparations, videos and links for additional information and resources.
The association, which represents credit unions in Delaware, Massachusetts, New Hampshire and Rhode Island, is also offering a free one-page flyer that provides information and useful tips on how members can manage their finances during the outbreak and how they can protect themselves from contracting the virus.
NAFCU also announced on Tuesday that it will be hosting a free coronavirus webinar on March 17. For more information, visit https://www.nafcu.org/pandemic20webinar.