This Tuesday afternoon eNews has the most recent developments, news, and resources that MCU staff have collected. If you would like to read or refer to past issues, we've now got the links on our website . Stay tuned, stay in touch, but most of all stay safe.
NEWS FROM WASHINGTON: Congress is poised to add as much as $300 billion to the Paycheck Protection Program this week, and CUNA wrote to Congress over the weekend calling for additional funds and set asides for small lenders. You can get the most recent update in this week's advocacy update video from CUNA Chief Advocacy Officer Ryan Donovan and the accompanying CUNA News article .

NEWS FROM HELENA : We've been working hard to stay in touch with those who will be making decisions and laws that affect credit unions' ability to serve your members. This week, we've been able to schedule two calls giving our credit union CEOs the chance to talk to Governor Bullock (on Wednesday) and Senator Daines (on Friday). If you have questions about the calls, contact me for more details.
ASK THE REGULATORS WEBINAR: Don't forget the interagency webinar this Friday at 1 p.m. MDT. Speakers from all the financial regulatory agencies will address loan modifications and reporting for financial institutions working with people affected by the Coronavirus. Register soon  to get a seat.

BSA IN THE TIME OF CORONAVIRUS: Since compliance obligations continue, even during a pandemic crisis, federal agencies have issued information to assist financial institutions. FinCEN reminded credit unions of their BSA reporting timelines, but noted that they would like to see you “responsibly implement innovative approaches to meet their BSA/anti-money laundering compliance obligations.” The agency recognizes some of the challenges with meeting reporting timelines as employees work remotely and may have trouble accessing some of the information needed for investigations. The Office of Foreign Assets Control (OFAC) also issued a statement noting how to contact them quickly regarding any COVID-19 compliance concerns, especially as they relate to meeting reporting obligations.
The FTC has been tracking the onset of pandemic-related schemes since the pandemic began and released a report with the information they've received from consumers. To keep up with the latest scams and what the FTC is doing, sign up to get their Consumer Alerts .
Have you given any thought to how you will prepare your credit union if restrictions start to lift in the coming weeks across Montana? What will your lobbies look like? How will your policies have changed? How will you continue to keep your staff and members safe? Some credit unions are considering plexiglass shields for teller windows, floor stickers and teller signs indicating 6' of social distancing, staggering staff schedules, limiting branch hours, and reducing the amount of lobby furniture to encourage social distancing. To help employers reduce the risk of staff exposure to COVID-19, OSHA has released Guidance on Preparing Workplaces for COVID-19 . This guidance addresses infection prevention, engineering controls, administrative controls, safe work practices, and personal protective equipment (PPE). It could help you prepare.
Since payments are expected to continue for several weeks, this blog post from CO-OP offers some good advice for credit unions and how you can prepare for the economic stimulus checks and support members. Consumers can check their payment status at or, if they are generally a non-filer, they can provide the IRS payment information at .
Take two minutes to listen to Episode 2 of "Together Tuesdays" from the National Credit Union Foundation. Today, Maurice Smith, CEO of Local Government FCU & Civic Federal CU in Raleigh, NC. shares what is inspiring him these days (hint: it has something to do with credit unions). Maurice has been in the "credit union business" for over 40 years and was recognized with the 2020 Herb Wegner Memorial Award for Outstanding Individual Achievement.
During times of financial crises credit unions are all about “people helping people”. Now, more than ever, we have to tell our stories. Stories about how you’re modifying loans, creating new products, offering financial counseling, and looking out for your members. We know there are countless examples of credit unions stepping u p during this unique and challenging time and our PR Team at The Summit Group is eager to help you share your stories. Contact them to help you tell the #CUDifference in your community.
MCU WEBSITE: We've added new webinars and classes this week, so make sure to check out our Free Educational Resources page to see if there's anything there that appeals to you.

CU LEADERSHIP WEBINAR SERIES: This two-part series featuring CUNA Mutual Group's Chief Economist Steve Rick and Tim Harrington of TEAM Resources will explore the COVID-19 recession and its impact on credit unions. Both sessions will take place at the same time: 12-1 p.m. MDT.

  • During the first session (April 23), Steve will focus on how the pandemic will impact the economy, the financial sector, the labor market, interest rates, and ultimately credit union balance sheets and earnings performances.
  • Tim will take over the second session (April 30) and offer practical guidance to help you control the balance sheet, manage the income statements, and minimize losses.
Registration is limited, so sign up today. All registrants will get a replay.
CUNA and WOCCU released word today that they have cancelled their joint credit union conference, which was scheduled to take place July 19-22 in Los Angeles. Any registration fees (including tour and guest registrations) will be fully refunded. If you want updates, CUNA's website has event status and other educational resources.
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.
Montana's Credit Unions - Educate Advocate Collaborate
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.