The Ohio Credit Union League is committed to connecting credit union leaders with preparedness assistance, sharing insights on the evolving COVID-19 situation, and providing information on state and federal assistance that can provide relief to credit union members and member businesses during this challenging time. This page will serve as a central location for updates and resources for Ohio credit unions during the outbreak. Please check in regularly and don’t hesitate contact us directly with questions.
RESOURCES FOR CREDIT UNIONS
- Contact PolicyWorks by email or at (866) 518-0209 with any COVID-related compliance questions.
- PolicyWorks Compliance Resources for Credit Unions
- Administrative Guidelines from the Ohio Division of Financial Institutions
- Federal Reserve Guidance for Loan Modifications
Credit union advocacy is already at work, requesting the President and Congress to quickly provide flexible regulatory oversight and increased resources to empower credit unions to do even more for their communities.
The League has expressed support for the Hillyer Amendment, which would require county recorders, auditors, map auditors and title offices to remain open and operational through the COVID-19 state of emergency. View the amendment here.
Thanks to League advocacy efforts in Ohio, state law was changed so remotely notarized documents meet the “in-person requirement” as defined in statute. Learn more about recommended remote notarization options here.
The League offers its analysis of the Families First Coronavirus Response Act (HR6201) as an information resource for its members to understand the bill and its implications for credit unions.
The League also offers an analysis of the Ohio stay-at-home order and guidance for your credit union to remain a compliant essential business.
Other Government News and Resources
- NCUA Annual Meeting Guidance
- Loan Modification Flexibility
- Federal Reserve Extensive Measures Announcement
- Regulators Address Troubled Debt Restructurings and Reporting Amid COVID-19
- CU PolicyPro Model Policy 2195: Pandemic Influenza Preparedness & Response – Guidelines for establishing and maintain policies and procedures in order to prepare and respond to the onset of potential influenza pandemic.
- InfoSight Business Continuity Planning– Three model policies are available for credit unions to access. New InfoSight resources and tools are being added as we learn of them.
RESOURCES FOR CREDIT UNION MEMBERS
Financial Assistance for Members
- Ohio Job and Family Services – Unemployment relief for employees without paid leave impacted by closures and operating restrictions.
- Ohio Liquor – Economic assistance for small businesses needing to return unopened high proof liquor products purchased within the past 30-days.
- U.S. Small Business Administration – Economic Injury Disaster Loans, that offer small businesses and non-profits necessary capital to survive until normal operations resume following a disaster.
- Development Services Agency – Utility assistance programs have been extended, including the Winter Crisis Program and Home Energy Assistance Program.
- Small Business Owner’s Guide to the CARES Act – Information on programs and initiatives that will be available through the Coronavirus Aid, Relief, and Economic Security Act.
- Resources from the Consumer Financial Protection Bureau
- Federal Trade Commission – tips for dealing with recent and emerging scams
- Consumer Alerts – subscribe to receive information on the latest scams