As soon as the COVID-19 pandemic began, CUNA Mutual Group quickly took action to ensure we were there to support the credit union system, members and the greater communities we collectively serve.
We established Stronger Together to provide relevant information and resources for our partners, while making a number of meaningful product changes such as increasing on premise cash limits for credit unions while waiving fees and providing premium payment flexibility to ensure members could keep their coverage without interruption.
In addition to the product changes, we focused on five key areas to support our customers and communities through the pandemic.
Advocating for Credit Unions: Our Corporate & Legislative Affairs team amplified credit union system advocacy efforts with members of Congress, adding our voice to help advance the credit union agenda, support efforts to increase funding for Community Development Financial Institutions (CDFI) and supported efforts to add a second round of funding for the Paycheck Protection Program (PPP) and credit union access as PPP lenders.
System Collaboration: We committed an additional $1 million of our $3 million total contribution to CUNA’s Open Your Eyes to a Credit Union awareness initiative, provided more than $200,000 in additional financial support of state foundations and National Credit Union Foundation and partnered with Inclusiv on the CDFI awareness and certification campaign for credit unions
Delivering Relevant Expertise: We hosted a record 2,440 attendees at our annual virtual Discovery Conference, provided regular economic and market updates from our chief economist and chief market strategist, and offered access to our experts across multiple business lines to help credit unions adapt and prepare for the future.
CUNA Mutual Group Foundation: In a year of adversity like no other—when the needs of our communities were greater than ever—our employees answered the call, contributing more than $200,000 toward COVID-19 relief in the Spring and more than $500,000 this Fall toward education, economic security and emergency aid. And, with a dollar-for-dollar match from our CUNA Mutual Group Foundation, our communities will receive more than $1M as they work to support those in need.
Diversity, Equity & Inclusion: As we continue to advance our own DEI strategy, we helped launch the CU DEI Collective as a Founding member. We expanded our partnership with the African American Credit Union Coalition (AACUC) and the Network of Latino Credit Unions and Professionals (NLCUP) and shared our company’s stance on social justice.
While most vendor relationships are primarily transactional, we consistently demonstrate that we are far are more than just a vendor. We help credit unions navigate through challenging times and thrive when times are good. We’ll be there to make a difference in the lives of your current and future members, in partnership with all of you. We are Stronger Together.
Learn more at cunamutual.com/strongertogether.