The health and welfare of credit union staff, volunteers, and members are of utmost importance to the Carolinas Credit Union League. We continue to monitor developments including credit union travel, meeting, and service policies, hotel and venue precautions,
and the status of public and private entities.
Until otherwise indicated, League staff are working remotely and are foregoing out-of-office events and in-person meetings. Office extensions have been forwarded to ensure prompt attention to incoming calls. Those providing direct services such as auditing
and accounting are actively working with each credit union using alternative procedures where possible.
COVID-19 has changed working conditions, raised safety concerns, and brought about unique employee resources The following relate to the workplace, health care, and leave under these unique circumstances.
Regardless of COVID-19’s impact, it brings necessary attention to credit union business continuity and pandemic preparation in general. A growing compilation of guidance and resources from the League’s Risk Management Resources Department is available
Regulator Guidance, Member Communications
Empowering people with information and special services will help them understand the situation and take control of their own well-being. The following resources are offered for credit unions for their outreach to and accommodations for employees,
members, and communities.
Q10. Does someone who has died qualify for the Payment?
Q11. Does someone who is a resident alien qualify for the Payment?
Q12. Does someone who is incarcerated qualify for the Payment?
Q41. What should I do to return an Economic Impact Payment?
As fears rise amid the pandemic, scammers are more likely to take advantage of concerned and misinformed consumers. The following resources are available so credit unions can equip their members to prevent and report COVID-19 related fraud and scams.
If your credit union has restricted travel and meetings, please notify President/CEO Dan Schline at email@example.com or via
phone at 919.457.9064.
Credit Union National Association (CUNA) Support
For a national scope of the credit union response during this Coronavirus pandemic, and access to additional resources and support, visit CUNA's Coronavirus resource page.
Carolinas Credit Union Foundation Support
The Carolinas Credit Union Foundation is now accepting applications under its Disaster Relief Fund for COVID-19 Relief Grants. These relief grants are for those hardest hit credit union employees who have limited savings and are unable to cover all of
their expenses each month due to loss of income in their household related to COVID-19. To learn more about the Foundation’s COVID-19 Relief Grants, please visit carolinasfoundation.org/covid-19 or contact Lauren Whaley.
POPi/o Virtual Branch Services
CUNA Strategic Services alliance provider POPi/o is offering until June 15, 2020 a limited number of free "seat" licenses per credit union for 60 days from implementation.
POPi/o enables web-based video collaboration with members to exchange documents including photo ID’s and review documents, to provide signatures to authorize new accounts and loans, and to address other urgent needs. The offer applies to contracts
in place by June 15, and POPi/o is available to work overtime to enable credit unions to go "live" with members within days. Contact Susan Allred at firstname.lastname@example.org for more information.
Eltropy Text Messaging for Credit Unions
In light of the current environment, Eltropy is offering through May 31, 2020 to waive setup and implementation fees, plus 90 days of platform fees. The only cost for a credit union in that timeframe will be "pass through" carrier text message fees
of $0.01 per text. Learn more by joining Eltropy founder Ashish Garg and the League for one-hour webinars on April 28 and April 30.
CU Solutions Group: Virtual Solutions for Staff and Members
Among resources available through CU Solutions Group is a series of crisis-related educational content provided by HR Performance Solutions at no cost to credit unions for six (6) months. Other pandemic-related solutions include: a series of free
strategy and compliance videos from CU Solutions Group; a series of free CUBE TV Studios videos that focus on credit union principles and stability, security of funds, and efforts to support impacted members; Turbo Tax discounts to promote digital
preparation and filing; and affordable identity theft protection with Financial Lock.
As members look to mitigate debt during furloughs and layoffs, the Kasasa Loan allows members to pay ahead and access the excess balance if needed. To help make the option available,
new Kasasa Loan credit unions signed up by June 1, 2020 will receive deferred setup and monthly licensing fees until Jan 2021, as well as waived per-loan servicing
fees for existing loans refinanced into Kasasa Loans. Existing Kasasa Loan credit unions will receive a special refinance offer. See more on Kasasa, and
email Susan Allred for more information.
Rate Reset for Loan Modifications
The NCUA is encouraging financial institutions to offer loan modifications to help mitigate financial burdens, a service Rate Reset has offered to the credit union community for more than ten years. The patented Reset Solutions can help members and
their communities in this time of need as well as alleviate back office resources in remote office circumstances. To help, Rate Reset is offering until December 31, 2020 a 50% reduction in implementation fees and no subscription fees for two (2)
months. See more on Rate Reset, and contact Susan Allred for details.