NCUA Chairman Hood: Coronavirus Aid, Relief, and Economic Security Act Will Provide Needed Relief

ALEXANDRIA, Va. (March 27, 2020) – National Credit Union Administration Chairman Rodney E. Hood issued the following statement today after the Coronavirus Aid, Relief and Economic Security Act was signed into law by President Donald J. Trump: “The Coronavirus Aid, Relief and Economic Security Act provides vital economic support and regulatory relief, and will ensure that […]

NCUA Hosts March 31 Webinar on COVID-19 Response

ALEXANDRIA, Va. (March 27, 2020) – Federally insured credit unions can learn more about the agency’s response to the COVID-19 outbreak by participating in a webinar hosted by the National Credit Union Administration on Tuesday, March 31, beginning at 2 p.m. Eastern. During the webinar, NCUA staff will also discuss recently issued guidance and changes […]

Financial Regulators Highlight Coordination and Collaboration of Efforts to Address COVID-19

(March 25, 2020) – The Federal Financial Institutions Examination Council continues to monitor and respond to the COVID-19 pandemic to promote the ongoing ability of the nation’s financial institutions to support the households and businesses that depend on them. FFIEC members, who met as a group yesterday, are actively discussing and identifying appropriate measures, both […]

Financial Regulators Highlight Coordination and Collaboration of Efforts to Address COVID-19

(March 25, 2020) – The Federal Financial Institutions Examination Council continues to monitor and respond to the COVID-19 pandemic to promote the ongoing ability of the nation’s financial institutions to support the households and businesses that depend on them. FFIEC members, who met as a group yesterday, are actively discussing and identifying appropriate measures, both […]

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

(March 26, 2020) – Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19. The statement of the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, […]

Streamlined CDFI Application Round Opens March 29

ALEXANDRIA, Va. (March 26, 2020) – Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions can apply to use the National Credit Union Administration’s qualification process for streamlined CDFI certification beginning March 29. The intake period closes May 31. The NCUA’s online program guide (opens new window) has all the […]

Streamlined CDFI Application Round Opens March 29

ALEXANDRIA, Va. (March 26, 2020) – Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions can apply to use the National Credit Union Administration’s qualification process for streamlined CDFI certification beginning March 29. The intake period closes May 31. The NCUA’s online program guide (opens new window) has all the […]

NCUA: Urgent Needs Grants Available to Help Credit Unions Affected by COVID-19

ALEXANDRIA, Va. (March 23, 2020) – Federally insured, low-income designated credit unions that experience unexpected costs as a result of COVID-19 can request urgent needs grants (opens new window) from the National Credit Union Administration. “The NCUA recognizes that the COVID-19 outbreak will affect all federally insured credit unions and their members to varying degrees,” […]

Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19

(March 22, 2020) – The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not criticize institutions for doing so in a […]

NCUA Announces Annual Meeting Flexibility

ALEXANDRIA, Va. (March 20, 2020) – The National Credit Union Administration today issued Letter to Federal Credit Unions, 20-FCU-02, NCUA Actions Related to COVID-19 – Annual Meeting Flexibility, announcing greater flexibility in conducting annual meetings. Due to the national emergency proclamation issued by President Donald J. Trump on March 13, 2020, effective immediately, a federal […]