CU Affiliates of New Jersey has launched an advertising campaign using exterior messages on transit buses. The ads state that credit unions are nonprofit financial cooperatives and offer unbeatable rates, while also highlighting the people-helping-people philosophy of CUs. In December 2002, CUANJ sponsored TV ads with a similar message.
With staff scattered between working at home and in the office, management at many institutions has taken steps to revamp intranets and launch employee-only Facebook groups to keep their workforce connected.
Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.
With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.
Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.