INFORMATION & RESOURCES ON COVID-19 | May 26, 2020
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This Tuesday afternoon eNews has the most recent developments, news, and resources that MCU staff have collected — things that won't wait for Friday's President's Report. If you've missed an issue,
the links
are on our website.
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GUIDANCE, UPDATES, AND INFO YOU CAN USE
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IN WASHINGTON:
While the Senate is not in Session this week, the House will meet and, for the first time ever, allow remote voting. Ryan Donovan, CUNA's Chief Advocacy Officer, discusses the implications in
this week's Advocacy Update
. Ryan also provides a look at the ways credit unions are actively engaging in advocacy on the next round of recovery legislation to advance credit union priorities like adding $1billion for the CDFI Fund and a one-year exemption for the member business lending cap. While the pace seems to be slowing a bit, Ryan cautions that "there's still a lot going on."
IN MONTANA:
We've have new numbers from those credit unions participating in the SBA's Paycheck Protection Program. Through May 18, Montana credit unions funded 675 PPP loans. The smallest loan granted was $580 and the largest was $4.3 million. That’s a pretty wide range! The average PPP loan at a credit union was $36,243. These loans helped to maintain paychecks for about 2,730 Montana workers. They still have a number of loans in the pipeline, so the total number of loans and people affected will continue to grow.
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CUNA's latest
Economic Update
video reports on the findings of two surveys — one of consumers and one of credit unions — to provide a look at how the COVID-19 pandemic has impacted consumer financial well-being and the ways in which credit unions have supported members. It's worth a watch.
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MONTANA ECONOMIC IMPACT SURVEY
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On the topic of economic impacts and credit union support for members …we ask our credit union CEOs to please fill out the survey you received from Kendra this morning. We'd like to get 100% participation so we have a good snapshot of the services you've provided your members and communities. If need the link again,
email Kendra
.
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EDUCATIONAL OPPORTUNITIES
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STORMING, NORMING & PERFORMING:
If you missed last week’s panel discussion around safely working, adapting operations, and managing businesses under new and evolving conditions, be sure to
listen to the recording
. The panel featured Conor Smith, CEO of First Call Computer Solutions, Darci Parsons, CEO of Ravalli County FCU, and our own Donya Parrish, VP of Risk Management.
FREE EDUCATION RESOURCES ON MCUN.COOP:
We continue to update pre-recorded webinars and other resources on our website. Be sure to
check this page often
to see what’s available now and what’s coming up.
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TOGETHER TUESDAYS from THE FOUNDATION
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In
Episode 7
, Brett Martinez, president and CEO of Redwood Credit Union, talks about how it’s the everyday life events (and not just natural disasters or pandemics) that demonstrate how credit unions step up and show how they differentiate themselves and continue to serve members.
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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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