Coronavirus: Guidance and Resources for Credit Unions

As the impact of the coronavirus continues to unfold, we are gathering the most up-to-date guidance and resources to help your credit union navigate the quickly changing situation. 

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This is where Maryland, Virginia, Delaware and the District of Columbia stand on reopening:

Maryland
Stage One of reopening began May 15, but Governor Hogan is giving counties the flexibility to reopen at their own pace.

Here are the stages of reopening outlined by Governor Hogan on April 24:

Stage One allows many small businesses to open and community activities would resume such as boating, golfing, fishing, tennis, outdoor religious activities, outdoor fitness and gym classes, and the resumption of outpatient surgeries and hospital procedures in counties with lower coronavirus infection rates.
Stage Two would allow for larger social gatherings and allow more businesses and activities to resume, including childcare centers, indoor gyms, indoor religious worship and elective procedures at hospitals.
Stage Three would allow large events and social gatherings to resume and also put fewer restrictions on hospitals and nursing homes.


Virginia
Virginia Governor Ralph Northam has extended the stay-at-home order in Northern Virginia, the city of Richmond and Accomack County through May 29. The rest of the Commonwealth began reopening May 15. 

Virginia's Phases of Reopening as announced May 4:

Phase 1: Easing limits on businesses and faith community, continued social distancing, and teleworking, and face coverings recommended in public.
Phase 2: Stay at home for vulnerable populations, no social gatherings of more than 50 individuals and continued social distancing
Phase 3: Safer at home for vulnerable population, remove ban on social gatherings, remove capacity limits in establishments, continue heightened cleaning and disinfection, possible other measures


Delaware
Governor John Carney has announced June 1 as the target date for Phase I of Delaware’s economic reopening. Governor Carney has extended Delaware’s State of Emergency declaration, including the stay-at-home order and its other modifications, through May 31. Details about Phase I of Delaware’s economic reopening will be released next week, but the general framework about Delaware’s recovery effort can be found here.


District of Columbia
Mayor Bowser has announced the District will adopt a multiple phase approach to reopening which could begin as early as May 29. Reopen DC, a group tasked with developing a reopening plan, released its recommendations on May 21. You can view the full report here

 

As state and local governments ease COVID-19 restrictions, credit unions need to remain responsive to government requirements while also meeting operational and organizational challenges. The MD|DC Credit Union Association has developed guidance based on recommendations from the Centers for Disease Control and Prevention (CDC), Occupational Safety and Health Administration (OSHA), Equal Employment Opportunity Commission and other government resources. "Guidance for Credit Unions as the Economy Reopens," identifies best practices credit unions should consider to protect employees, members and visitors. 

Additional Resources:
The Financial Sector Coordination Council has released the Financial Sector Return to Normal Operations Resource Guide (May 27, 2020)

Webinar: Thursday, May 14 | Webinar Recording | Webinar Slides

Town Hall: Tuesday, May 19 | Press Release | Panelistes | Webinar Recording

Town Hall: Wednesday, May 6 | Press Release | Panelists | Webinar Slides

Town Hall: Tuesday, April 21 | Press Release | Panelists | Webinar Recording

Town Hall: Tuesday, April 7 Press ReleasePanelists | Webinar Slides

Town Hall: Tuesday, March 24 | Press Release | Panelists | Webinar Recording 

Certification of Essential Services
Credit unions have been deemed "essential services." As such employees may need a letter to certify that they are employed by a credit union when traveling to and from work. Kaufman & Canoles has drafted a Certification of Essential Services template that is customizable for credit unions in the District of Columbia, Maryland, Virginia and Maryland. You can download the document here.

Paid Leave under the Families First Coronavirus Response Act
The Families First Coronavirus Response Act took effect Thursday, April 1, 2020 and includes two employment-related provisions:

• The Emergency Paid Sick Leave Act guarantees up to two weeks of paid sick leave for certain U.S. workers affected by COVID-19.
• The amendment to the Family and Medical Leave Act and permits 12 weeks of leave to care for a minor child whose school or daycare is unavailable due to a health emergency. For more details, click here.

The U.S. Department of Labor has provided compliance guidance and FAQs:
Employer Paid Leave Requirements
Families First Coronavirus Response Act: FAQs

Tax Credits
COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs

Notification
Each covered employer must post a notice of the Families First Coronavirus Response Act (FFCRA) requirements in a conspicuous place on its premises. An employer may satisfy this requirement by emailing or direct mailing this notice to employees, or posting this notice on an employee information internal or external website.

Download Poster
Download FAQs

Video Awareness Campaign
During these uncertain times, it's important to remind members that credit unions are ready to help with financial relief programs. CU Solutions Group's CUBE TV Studios has produced a series of videos that are free for credit unions to use. Visit: https://www.vidfuel.com/ to download the generic versions or to inquire about customization for a nominal fee. Check out the videos below:

Open and Ready :15
Security and Partner :15
Service Commitment :30
A Trusted Financial Partner :60

Press Releases
Association Hosts Town Hall, Looks at Impact of Pandemic on Consumers & Overall Economy (April 21, 2020)
5 Ways for Consumers to Use Their Economic Impact Payments (April 14, 2020)
Senator Cardin, Regulators and Maryland Officials Participate in Virtual Town Hall Hosted by the MD|DC Credit Union Association (April 7, 2020)
Credit Unions Support Hogan Administration’s Financial Relief Initiatives for Maryland Consumers (April 3, 2020)
CU Foundation MD|DC Announces COVID-19 Emergency Response Fund (April 2, 2020)
Credit Unions Offering Immediate Financial Relief for Consumers Facing Economic Uncertainty (March 30, 2020)
Virtual Town Hall Hosted by MD|DC Credit Union Association Includes U.S. Senator Van Hollen, State & Federal Regulators (March 25, 2020)
Credit Unions Continue to Operate, Offer Assistance for Members Impacted by Pandemic (March 22, 2020)

Media Coverage

How to Spend Your Stimulus Check - WMAR-TV (April 15, 2020)

Now that you've received your economic impact payment, how should you spend it? WMAR-TV, Matter for Mallory (April 15, 2020)

CU Foundation Opens New Fund to Support Members Affected by COVID-19 Credit Union Times (April 9)

During MDDCCUA Town Hall, Senator, Regulators & Others Talk Tax Relief, Consumer Relief, Workplace Issues & More - CU Today (April 9, 2020)

Credit Unions & Financial Institutions Offer Mortgage Help for Homeowners - WJLA-TV (April 6, 2020)

Md. Credit Unions Focus on ‘Getting Members Through This’ - Maryland Matters (March 31, 2020)

Live Interview with WBAL-TV - March 25, 2020

MDDCCUA Hosts Virtual Town Hall Offering Pandemic Responses from Senator, NCUA, HR Expert, CUNA Mutual CU Today (March 25, 2020)

CUs Continue to Respond With Hardship Loans, Times Reserved for Older Members, and More - CU Today (March 23, 2020)

Member Communications & Best Practices
External communications best practices
Frequently asked media questions
Sample local media pitch
Social media templates and graphics
Tips for effectively reaching your members through social media
Letter to the editor templates
Video best practices

NCUA: Steps to Assist Members:
• Waive ATM, overdraft and loan balance or credit card late fees, early withdrawal penalties on time deposits and availability restrictions on insurance checks;
• Ease restrictions on cashing out-of-state and non-member checks, credit terms for new loans for members who qualify;
• Offer or expand payday alternative loan programs, increase credit card limits for creditworthy borrowers; 
• Offer payment accommodations, such as allowing borrowers to defer or skip some payments, or extend the payment due dates, which would avoid delinquencies and negative credit bureau reporting caused by any COVID-19-related disruptions.

Safeguarding Members and Staff
• Modify hours; adopt precautionary measures to reduce the amount of face-to-face interactions
• Encourage members to do their banking from home through mobile and online services
• Encourage members to regularly visit your credit union’s website for up-to-date information Proactively reach out to members through electronic communications or mail
• Remind members that their money is safe, and their accounts are fully insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000
• Educate members on COVID-19-related scams 
• Enact cash management procedures to ensure ATMs and ITMs are well-stocked as withdrawals increase.

MARYLAND

Links
Maryland Strong: Roadmap to Recovery (April 24, 2020)
Maryland Coronavirus Information for Businesses (May 6, 2020)
Financial Relief Guide for Marylanders
The Hogan Administration’s COVID-19 A-to-Z Resource Guide
Office of the Governor

Dept. of Labor-Financial Regulation 
COVID-19 Resources main page 
COVID-19 Industry Guidance and Resources
Foreclosure Data Tracker 

Announcements
Governor Hogan Announces Resumption of Elective Medical Procedures, Broadening of Outdoor Activities Under Stay at Home Order (May 6, 2020)
Maryland Governor Executive Order Number 20-04-29-03 (Prohibiting Garnishment of CARES Act Rebates)
Governor Hogan’s Order on Face Coverings-What Does it Mean for Credit Unions?
Maryland Governor Executive Order NUMBER 20-04-03-01 (Stopping Initiation of Residential Mortgage Foreclosures)
Maryland Governor's Office: Interpretive Guidance on Essential Businesses Defined 

WASHINGTON, DC

Links
DC Government
Department of Insurance, Securities and Banking
DC Health Department

Announcements
FAQs and Guidance: Residential Mortgage and Commercial Mortgage Deferment Program (May 7, 2020)
Mayor Bowser Extends Public Health Emergency, Stay at Home Order, and Closure of Non-Essential Businesses Through May 15
Designation of Essential Businesses During Coronavirus

VIRGINIA

Links
Forward Virginia: A Blueprint for Easing Public Health Restrictions (April 24, 2020)
State COVID-19 Resources
Virginia Department of Health
Virginia Business Resources

Announcements
Governor Northam Extends Business Closures for Two Weeks to May 8
Temporary Stay-at-Home Order (March 30) 

DELAWARE

Links
Delaware COVID-19 Resources
Business Resources
Delaware Health and Social Services

Announcements
Governor Carney Releases Statement on Economic Reopening; Announces June 1 as Target for Phase I (May 8, 2020)
Governor Carney Announces Public Engagement Around Economic Reopening, Recovery (April 23)
Governor Carney and Five Governors Announce Multi-State Council to Get People Back to Work and Restore the Economy (April 13)

FEDERAL

Links
CDC - coronavirus.gov
C
DC-Business Pandemic Planning Checklist
USA.gov-Federal Response to COVID-19 Pandemic
HHS-Department of Health & Human Services
D
OL-Department of Labor
IRS-Economic Impact Payment Information Center
DHS-Department of Homeland Security
DHS CISA-The Cybersecurity and Infrastructure Agency Security Information & Updates on COVID-19

Announcements
Federal Reserve Board: Federal Agencies Encourage Banks Savings Associations and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19

Federal Reserve to Buy Unlimited Debt and Lend to Businesses

Centers for Disease Control and Prevention, Interim Guidance for Businesses & Employers to Plan and Respond to Coronavirus

FinCEN: Financial Institutions to Communicate Concerns Related to the Coronavirus Disease 2019 (COVID-19) and to Remain Alert to Related Illicit Financial Activity

Federal Financial Institutions Examination Council (FFIEC) Interagency Statement on Pandemic Planning

IRS: Coronavirus Tax Relief

NACHA ACH Network Rules Pandemic-Related Frequently Asked Questions

 

Statement on Cancellation of 2020 Annual Meeting & Convention (April 14)

MD|DC Credit Union Association Staff Working Remotely Beginning March 16 (March 15)
View Statement

Statement Regarding Association Trainings & Events (March 12, 2020)
"While developments surrounding the coronavirus pandemic have been rapidly unfolding, we have been focused on processing the considerable information we’ve been receiving in a balanced and thoughtful way. Out of an abundance of caution and concern for the well-being of our employees and members, we have made the decision to cancel or postpone several upcoming in-person trainings and events. The decision was made through careful deliberation and strictly as a precautionary measure to minimize any potential health risks. We are actively monitoring the situation and are taking guidance from the Centers for Disease Control and Prevention, as well as our state and local health agencies. Please check back here for any updates on our training and events schedule. We appreciate everyone's patience and understanding."

Coronavirus: Credit Union Member Support

Your credit union members could be impacted in a variety of ways by the coronavirus. From financial loss to learning how to access their accounts remotely, members will need guidance and support.

Read more