This letter outlines a number of strategies credit unions may consider when determining how to work with their members to address the impact of, and challenges associated with, COVID-19. NCUA’s examiners will not criticize a credit union’s efforts to provide prudent relief for members when such efforts are conducted in a reasonable manner with proper controls and management oversight.
NCUA: Letter to Credit Unions No. 20-CU-02 – NCUA Actions Related to COVID-19 (March 2020)
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