6 ways the coronavirus has changed credit unions
Credit unions have had to scramble to adjust to the fallout from the coronavirus as it became widespread in March.
Executives had to quickly deal with a range of issues, such as ensuring that a large number of employees could work from home and figuring out how to offer loans through the hastily designed Paycheck Protection Program from the Small Business Administration.
And it's likely that credit unions will be dealing with the pandemic's affects through at least the end of this year. Credit quality could remain a concern as the unemployment rate continues to be extremely high. Some states are reporting a jump in coronavirus cases so second waves of the disease seem possible, at least for some areas.
Here is a look at six ways the coronavirus has changed credit unions so far and how the industry has responded to these unprecedented times.