President's Message

“Credit unions were built for this.” We hear that phrase time and time again during times of crisis. Not only is it is a true statement, but during these dark times, the credit union system shines its brightest. Through courage, compassion, and community we are stronger together.

The CUNA Mutual Group’s systemwide support during this year’s coronavirus pandemic was—and continues to be—both impressive and impactful.

The team at CUNA Mutual responded swiftly and thoughtfully. They clarified and adapted their processes and coverages in response to the virus, and quickly removed red tape in the best interests of credit unions and their members. A few specific examples of support this year include:

• Made COVID-19 RISK Alerts available to all credit unions.

• Increased On Premise Limits by $500,000 at no charge for Bond policyholders.

• Waived LOANLINER®: Customization Fees for credit unions trying to assist members experiencing financial hardship due to COVID-19.

• Provided extended premium payment flexibility to impacted members in need.

• With their partners at Liberty Mutual, CUNA Mutual automatically provided 15% refunds on two months of premium to all auto insurance policy holders.

• Made it easier for members to access their involuntary unemployment coverage and enabled credit unions to offer more skip payments for members with GAP coverage.

• Waived fees on all COVID related loans and withdrawals on retirement plans to relieve pressure on plan participants. 

Time and time again, we can see that Credit unions, leagues and CUNA, and our system partners are stronger when we work together. This pandemic has tried is level best to lay us low, but together we rise. Here in Connecticut, we value our longstanding partnership with CUNA Mutual Group as built on cooperation, collaboration, support, trust, and respect.

I look forward to helping CUNA Mutual Group build and strengthen this foundation for you, our allied and aligned member credit unions.

As always,
Bruce