bags of money falling into hands Source: Shutterstock.

The Paycheck Protection Program was created for the peculiar economic conditions of a pandemic. Hopefully, the forgivable loans will never be needed again.

But despite the one-off nature of the program, interviews with credit unions indicated that the PPP loan program was one of the tests of institutional capacity among credit unions presented by the pandemic. Some chose to aggressively meet the call by redeploying workers, standing up new systems and working with government agencies trying to do the same.

Jim DuPlessis

A journalist for decades.

More from this author

Dig Deeper

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.