NEW YORK–Financial assistance to vulnerable households and businesses will mitigate the economic and employment shock but will not prevent a severe downturn, according to a new report from Moody’s.
Fresh Today
NEW YORK–It isn’t just the Paycheck Protection Program with which both lenders and borrowers are struggling with glitches and delays.
ONALASKA, Wis.–Altra Federal Credit Union has become the latest to announce it will pay its teller and member relations team members with a 20% pay increase during the coronavirus pandemic. The premium will remain in effect until the office lobbies are able to reopen.
TORONTO–To offer relief during the coronavirus pandemic, 214 credit unions in Canada have reduced the interest rate on the credit cards offered to business and prime members to 10.9%.
BAYTOWN, Texas — Community Resource Credit Union has named a new president and CEO. The credit union has selected Russell Ballard to lead the organization.
DANA POINT, Calif.–Moving for the first-time ever to a completely online environment, the California and Nevada Credit Unions for Kids 15th Annual Win Auction was still able to raise $1.1 million.
Heading Into Pandemic, Most Small Biz Said They Weren’t Prepared to Handle Long-Term Loss of Revenue
WASHINGTON—Most small businesses are not equipped to handle a long-term loss in revenue, according to the latest Small Business Credit Survey from the Federal Reserve.
MADISON, Wis.–Seeking to effectively respond to the coronavirus pandemic, representatives from SACCO and CFI (credit union) associations across Africa shared experiences with managing liquidity and dividend payments, and the need for ongoing regulatory relief during an April 8 webinar organized by the World Council of Credit Unions and the African Confederation of Cooperative Savings and Credit Association.
MADISON, Wis.–The National Credit Union Foundation has introduced a new website and also announced plans to host a webinar on consumer financial well-being.
RANCHO CUCAMONGA, Calif.–CO-OP Financial Services has released what it is calling a think piece on the need for credit unions to continue to be the "compassionate banking alternative" to big banks.