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Businessman drawing complex plan on white board CU executive strategizes for the future. Source: Shutterstock

COVID-19 is one of the biggest challenges of our time. The pandemic’s health threat and death rate are the likes of which we have not seen in generations. And of course we are likely to feel the economic impact of the virus for months if not years.

Credit unions are currently faced with numerous challenges: Closing lobbies, adjusting hours and working remotely to name a few internal issues. From the external side there is the threat of lower loan demand, increased delinquencies and falling net income.

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