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Planet Earth shaped as the coronavirus Source: Shutterstock.

The anticipated suspension of loan payment relief and government aid programs could put substantial pressure on credit unions across the globe in 2021, according to a World Council of Credit Unions committee that convened last week for the first time.

The COVID-19 Response Committee, which met Aug. 27, was focused on identifying coronavirus-era challenges and how best to manage them. “I will do my best to help the global credit union movement overcome COVID-19,” said committee chair Younsik Kim, a World Council board director and CEO of the National Credit Union Federation of Korea.

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