Credit Unions & COVID-19 Solutions
COVID-19 Resources for Credit Unions
Helping Families in Financial Crisis
Credit unions and CDFIs serve vulnerable consumers. It's essential for families to learn how to find help during the COVID-19 crisis. We created a survival guide with practical tips.
What should families know?
Many consumers don't know what a credit union is. What is a CDFI? Most haven't needed to learn about debt traps and predatory lenders which target families and businesses in crisis.
Tips for Consumers
What to do about difficulty paying rent.
How to access emergency cash.
Keeping the cash you have now.
Protecting your credit score.
Why a not-for-profit credit union will help in ways banks will not.
What is predatory lending?
What is a CDFI?
Locating credit unions & CDFIs.
How to ensure missed payments aren't reported to the credit bureau improperly during COVID.
Interagency Guidance on Loan Modifications
On March 22, The Board of Governors of the FRB, FDIC, NCUA, OCC, CFPB, and the State Banking Regulators are issued an interagency statement to provide additional information to financial institutions who are working with borrowers affected by the COVID-19.