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NCUA will not hold open meeting in March, updates guidance to respond to COVID-19

The NCUA recently announced it has chosen not to hold its previously scheduled open meeting March 19, in response to the recent coronavirus pandemic.

In fact, the agency announced in its Letter to Credit Unions No. 20-CU-02 that it has mandated telework for headquarters and regional office staff unless narrow exemptions are met. The Letter goes on to advise credit unions about working with members affected financially by the situation, flexibility in planning annual meetings and more.

The NCUA emphasized that it wouldn’t fault credit union’s efforts to help members through this unique situation – as long as these efforts were conducted responsibly.

Please review the Letter to Credit Unions No. 20-CU-02 and Q&A here, and let us know if you have any questions. For the latest information on the spread of the coronavirus and for resources to help communicate with and serve your members, visit our Coronavirus Resource Area here.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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