INFORMATION & RESOURCES ON COVID-19 | April 14, 2020
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This Tuesday afternoon eNews has the most recent developments, news, and resources that MCU staff have collected. If you would to read or refer to past issues, we've now
got the links on our website
. Thanks again for all your work on the frontlines as "financial first responders."
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GUIDANCE, UPDATES, AND INFO YOU CAN USE
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Today, the National Credit Union Foundation launched its new weekly video series
Together Tuesdays
. Designed to "inspire some positivity and bring people together," the series hopes to help credit union staff to "realize how powerful [they] are as first responders," and that they "are not alone during this pandemic." Take three minutes and watch the first episode for a
dose of recognition and positivity
from Executive Director Gigi Hyland.
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This
week's short video
from CUNA's Chief Advocacy Officer Ryan Donavan provides an update on the implementation of the Paycheck Protection Program and an overview of the Phase 4 priorities that are coming together. There's a LOT of moving parts, and it's clear that CUNA is working hard to make sure that credit unions can continue to serve your members.
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TALKING FRAUD ON THE RADIO
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This morning at 8:30, Tracie hit the airwaves in Helena to e
xplain how scammers are trying to get our money during the COVID-19 pandemic, especially now that payments from the federal government are starting to arrive.
Give the interview a listen
.
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CENTRAL LIQUIDITY FACILITY:
Yesterday, the NCUA Board
unanimously approved
an interim final rule dealing with the Central Liquidity Facility (CLF). The rule supplements the CARES Act and adds greater flexibility and relief for member credit unions while making it easier for credit unions to join the CLF as a regular member or through a corporate credit union. Millennium Corporate CU was pleased to hear that NCUA approved the changes and Circe Gleeson, marketing manager, said that Millennium would be "reaching out to credit unions with more information as it becomes available."
COVID-19 EMERGENCY RESPONSE GRANTS:
NCUA
announced
that most of the 2020 Community Development Revolving Loan Fund (CDRLF) appropriation would be targeted for COVID-19 assistance, making more than $1.3 million available for eligible low-income credit unions. Deadline to
apply is May 22
.
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CYBERSECURITY CONSIDERATIONS FOR REMOTE WORK
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NCUA RISK ALERT:
NCUA
released a Risk Alert
detailing cybersecurity best practices for credit unions whose employees are using personal networks and devices while they work from home.
KNOWBE4 WEBINAR:
KnowBe4 is hosting
a webinar
tomorrow (April 15) at noon MDT. KnowBe4's Chief Hacking Officer Kevin Mitnick (who wrote
The Art of Invisibility
) and Chief Evangelist and Strategy Officer Perry Carpenter will discuss the expected and unexpected risks related to a remote workforce. They'll address privacy concerns around employees using personal devices for business purposes; security issues with various operating systems, mobile devices, and the Internet of Things; and what you need to know to keep the bad guys from accessing your organization's critical data.
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PPP LENDERS:
While credit unions around the state are busy working with their members in many ways, we have 13 credit unions who are approved to provide Montana's small businesses with loans through SBA's new Payroll Protection Program. We have at least one credit union represented in all corners of the state. Kudos to 1st Liberty FCU, Altana FCU, Badlands FCU, Clearwater CU, Daniels-Sheridan FCU, Embark CU, Fergus FCU, Grasslands FCU, High Peaks FCU, Intrepid CU, Lincoln County CU, Richland FCU, and Sky FCU. (If we missed you, let us know.)
CUNA WEBINAR:
CUNA is offering a free webinar tomorrow on the SBA Lending Programs that will help you adapt your small business lending program to new lending regulations and provisions, including changes to CECL compliance requirements. You can learn about some of the options you have to provide relief to small business owners struggling to pay bills after many have been forced to suspend operations or reduce their capacity to serve customers. You can sign up to
attend the live webinar
(April 15 from 11-12:30 MDT) or to
receive the recording
, which should be available by Thursday.
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As your credit union adjusts daily to meet the needs of your members, don’t forget the InfoSight
Pandemic Preparedness topic
is being updated. Here is a sample of a few recent additions, including some policies you might be looking for:
- New resources (including FAQs) added to CARES Act
- Free COVID-19 marketing videos
- Model policies for the Families First Coronavirus Response Act and the CARES Act – Small Business Administration Loans
- Pandemic Preparedness Webinar Video (Best Practices)
- FAQs Regarding the DOL Model Paid Leave Notice
- Examples of Relief for Members
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FREE EDUCATIONAL RESOURCES
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We continue to find new things to add to the
Free Education Resources
page on our website. Here's a recent addition that you might find helpful:
Life-Work Balance During the COVID-19 Crisis
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Maintaining a healthy life-work balance is a challenge during normal times — and these certainly aren't normal times! Watch Steve Beck and special guests Renee Brouck, yoga instructor, and Stephanie B. Johnson, fitness instructor, discuss tips and rules for staying focused, managing your time, and striving for mental, physical, emotional and spiritual balance.
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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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