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Credit unions are gearing up to help business members survive the coronavirus pandemic, reducing the economic damage to their workers and ultimately to the lenders.

Loan modifications are the first and most common step for most credit unions, most typically involving three months of deferred payments, followed by three months of interest-only payments, according to experts participating in a recent webinar sponsored by CU Business Group, a CUSO based in Portland, Ore.

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Jim DuPlessis

A journalist for decades.

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