INFORMATION & RESOURCES ON COVID-19 | April 28, 2020
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This Tuesday afternoon eNews has the most recent developments, news, and resources that MCU staff have collected. You can find the
links to past issues
on our website. Stay tuned, stay in touch, but most of all, stay safe.
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GUIDANCE, UPDATES, AND INFO YOU CAN USE
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NEWS FROM WASHINGTON:
This
week's short video
from CUNA's Chief Advocacy Officer Ryan Donavan provides an update on the Paycheck Protection Program, the Federal Reserve
suspending the Reg D transfer limit
, and discussing CUNA's advocacy efforts around Phase 4 stimulus and recovery legislation.
NEWS FROM HELENA
: On Thursday morning, Tracie will be presenting state-level credit union data on the Paycheck Protection Program to the Montana House and Senate Economic Affairs Interim Committee. Thanks to the PPP lenders who provided their data; we know how busy you are! We’ll share the information with you in the
President’s Report
on Friday.
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HELP WITH REOPENING YOUR LOBBIES
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DOCUMENTS FROM THE LAWYERS:
With Governor Bullock’s announcement last week that retail businesses were approved to reopen (with COVD-19 modifications) April 27, we engaged lawyers Cori Cook and Jenna Leslie to create documents to help with that transition. (
Download a .zip file
with the documents.)
MATERIALS TO USE:
We are in the process of creating new lobby signs, press releases, and statements for you to use as you open your lobby doors again in the weeks to come. You will be able to find them on
our website
by 2 p.m. tomorrow (Wednesday, April 29).
SPOTIFY PLAYLIST
: Oh, and if you need some music to keep up your spirits while sanitizing your workspaces, the MCU staff put together a "
quarantine playlist
" on Spotify that might just hit the right note.
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ECONOMIC PAYMENTS — NEW IRS PORTAL
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If you or a member are wondering about your economic impact payment, the IRS executed a significant update of its
Get My Payment tool
. If you’re on Social Security, SSDI, or receive railroad retirement benefits, your information is now in the tool, so try again. (If you receive SSA or VA benefits, your information still isn’t there, but it should be shortly.) Users can add their financial account information, if it's not yet on file with the IRS. The IRS also has a form for
individuals who do not normally file taxes
.
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TOGETHER TUESDAYS from THE FOUNDATION
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In
the third episode
of "Together Tuesdays" from the National Credit Union Foundation, Teresa Freeborn, CEO of Xceed FCU and 2020 Herb Wegner Award Winner, discusses how inspiring she finds the credit union mantra of putting people first, regardless of what is happening. In addition, Teresa notes that she has found it "inspiring and incredibly motivating to serve alongside others who share [her]values" during her four-decade career in credit unions.
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GOOD NEWS — GRASSLAND FCU GETS NCUA GRANT
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Speaking of credit unions and putting people first …
Grasslands FCU
received word yesterday they had been awarded a $10,000 COVID-19 Emergency Fund grant from the NCUA. President/CEO Emily Guldborg had applied to the NCUA's Emergency Grant project to support the efforts of the schools in their service area to deliver meals and supplies to children who are eligible for school lunch. The credit union plans to analyze where their members who are under 18 live and allocate the funds accordingly. The credit union's donations will go to the school districts and be earmarked specifically for the school lunch program and facilitating rural servicing of it. Emily says that they hope the money will both remove some of the financial strain of providing "take-out" meals and help provide more healthful foods for students in areas that are quickly becoming food deserts. Congrats!
NCUA GRANT PROGRAM:
If your credit union is federally insured and has a low-income designation, NCUA has $4 million in loans and $800,000 in grants to assist members, businesses, and communities experiencing economic hardships due to the COVID-19 pandemic.
Read more about the program's
details and apply no later than May 22.
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FREE EDUCATIONAL RESOURCES
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MCU WEBSITE:
Be sure to check our
Free Educational Resources
page, which contains a variety of resources designed to help credit unions during the coronavirus crisis. You'll find resources on topics like economic impacts, finding a life-work balance during the COVID-19 crisis, and training staff virtually.
AIM FOR NAVIGATING 2020:
Millennium Corporate CU's Asset and Investment Management (AIM) service is hosting a four-part webinar series designed to help credit unions navigate through today's unprecedented environment. The first session is April 29 (that's tomorrow) from 1 to 1:30 p.m. MDT and will highlight recommended ways to update both your investment and ALM strategies in order to maximize your credit unions’ potential. Everyone is invited — email
marketing@millenniumcorporate.org
to register.
COVID-19 – TOUGH CHOICES IN TOUGH TIMES WEBCAST:
This complimentary roundtable discussion hosted by
CU Times
will take place on May 14 at noon MDT. Credit union executives from around the country will talk about the effects COVID-19 has had on their credit unions, employees, and members.
Learn more and register
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To make sure these important links stay at your fingertips, we're going to keep them at the bottom of this weekly email. If we introduce links above that we feel belong here, you'll see them in this list in the next issue.
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MONTANA-SPECIFIC RESOURCES
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This is an internal publication of Montana's Credit Unions intended for our affiliated credit unions and their official family. For more information, call us or visit our website.
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Montana's Credit Unions | 800-745-5547 | montanascreditunions.coop
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