CUInsight Minute with Lauren Culp – May 15, 2020

Welcome to the CUInsight Minute, sixty seconds from our Publisher & CEO Lauren Culp with the top three of our favorite things from the week.

Mentioned this week:

*We’ve heard so many great stories about the wonderful ways folks in our industry are giving back to their communities during this time. Here are more ways you can help during the coronavirus pandemic.

Six ways to protect your employees when stay-at-home orders lift
by JAY SPEIDELL, MOMENTUM
As the COVID-19 pandemic continues, the question we’re getting asked most is “how can we keep our employees safe when they come back to work?” We’ve put together a checklist breaking down a number of things that you can do right now as well as going forward, but we’d also like to share a list of six things that credit unions can do immediately to make your workplace a safer place for employees in the short term. (read more)

Consumer impacts from COVID-19, immediate responses and the opportunity ahead
by BLAKE WOODS, TRANSUNION
As the COVID-19 crisis continues, its financial impact is more measurable. Nearly 60% of consumers already feel household financial repercussions and they expect an average budget shortage of $1,016, according to our weekly hardship survey. Those same individuals reported that they will not be able to pay their bills or loans in an average of 6.3 weeks. (read more)

Faster payments: The time is now
by LOU GRILLI, PSCU
When it comes to supporting the latest payment forms on behalf of members, credit unions have several new options – each of which comes with its own set of challenges. Decades-old technology like checks, wire transfers and ACH are now working beside Visa Direct and Mastercard Send™ push payments. (read more)