Leagues Monitor Coronavirus Issue, Offering Resources for CUs

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The California and Nevada Credit Union Leagues are continuing to monitor the situation regarding novel Coronavirus and the respiratory disease COVID-19, including potential community impacts and business disruption on the entire industry, individual credit unions in California and Nevada, credit union employees, and League operations.

League staff is collaborating with the Credit Union National Association (CUNA) and those from other state credit union associations as more information is made available.

For the time being, the Leagues recommend credit unions review their Business Continuity Plans for maintaining operations in the event of a situation that would require limited or widespread closures of their physical facilities. Additional resources from the National Credit Union Administration (NCUA), Centers for Disease Control and Prevention (CDC), and League InfoSight include:

Additional Resources
Credit unions should also take note of the following:

  • Credit unions should monitor or remain in contact with local government health agencies for direction regarding business impact and potential closures should the virus spread to your community.
  • The Leagues will share a special preparedness update for financial institutions when it is completed by the Financial Sector Coronavirus Working Group. CUNA has been engaged with this working group, which also includes staff from the NCUA, U.S. Treasury Department, Federal Reserve Board, Office of Comptroller of the Currency, Centers for Disease Control and Prevention, and a handful of other financial service organizations.
  • Stay tuned for information regarding eTrain’s updated “Business Continuity Planning and Preparedness” webinar that will include information on pandemic preparedness.
  • The Leagues are also ready to take any necessary steps to ensure business continuity of League operations, should prudent community safety plans limit group interactions. The Leagues are fortunate that the Ontario and Sacramento teams are prepared to work fully remote if needed.

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