Credit Unions are Open for Business, While Keeping Staff and Members' Health, Safety at Forefront

CONTACT:
Lewis Wood
Vice President, Public Relations & Communication
800.768.3344, ext. 1629
lwood@vacul.org

(UPDATED MARCH 29) (Richmond, Va.) In the midst of the current national health crisis, credit unions are taking steps to ensure staff and members remain safe, even as service to members continues.

Credit unions across the Commonwealth have alerted members about their efforts to increase cleaning and disinfecting at branches, and limit physical contact. Most credit unions offer alternative methods to access the credit union without going to a branch, such as online or mobile banking or a contact/call center. Others have closed their lobbies, but are serving members at their drive-thrus.

“Credit unions continue to serve members, processing loans, routine deposit and payment transactions, opening accounts and more,” says Virginia Credit Union League President Rick Pillow. “It’s important to note that credit unions and banks are considered essential services and remain open but are operating with the health and welfare of members and staff foremost in their minds. Members can also rest assured that their money is safe at Virginia-headquartered credit unions, with accounts insured to at least $250,000 per account, and backed by the full faith and credit of the federal government.”

As the nation works to slow the spread of the coronavirus, it’s also important to note that credit unions are working with members affected financially by the pandemic, including those who are furloughed or seen their income reduced. Reach out to your financial institution for details on how they may be able to help. Contact information for many of the nation’s credit unions is available at YourMoneyFurther.com. 

We also urge all consumers to take extra precaution to avoid scams that prey on fears and anxiety related to the spread of coronavirus/COVID-19. During times of emergencies or natural disasters, scammers seek to take advantage of vulnerable populations, and federal agencies are receiving reports about scams related to banking, financial services, insurance, healthcare services and more.

Scammers seek to get your personal financial or healthcare information, credit card information, social security number, or are seeking to sell you a false product. Learn more here.