Page 4 - Michigan Credit Union League: CU Impact Report
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4 CREDIT UNION IMPACT REPORT FALL 2020
On March 24, 2020, Michigan’s Governor, Additionally, eligible credit unions
Gretchen Whitmer, issued a statewide made representatives available to assist
stay-at-home order to mitigate public small businesses applying for the Small
health issues created by the COVID-19 Business Administration’s Paycheck
pandemic. As a result, 10 million Protection Program loans, while many
Michiganders paused their livelihoods to others found ways to provide for members
reduce exposure and unintentional risk that stretch well beyond basic financial
caused by the virus. services, such as delivering meals,
staying in touch with senior members
As essential service providers, credit and fundraising to make sure essential
unions stayed open for business, serving workers had proper protective equipment.
their 5.6 million members (56% of the
state population), while restricting most Simply put, since the pandemic hit
branch operations to appointment-only Michigan, the state’s credit unions have
for the safety of employees and members. once again proven their willingness
to truly help the many residents in
While more than half of Michigan’s need, exhibiting what the credit union
10,000 statewide credit union difference really means.
workforce has had to work remotely,
this has not hindered their ability to What follows in the 2020 Fall issue of the
serve members and businesses via Credit Union Impact Report are stories,
call centers, drive-thrus, ATMs and statistics and testimonials that illustrate
mobile banking services, offering in detail how the non-profit Michigan
new loans or modifications, income- credit union movement has been there
saving refinanced loans and access to for members during this historically
emergency services for cash needs. difficult moment.
Best,
Dave Adams
President/CEO
MCUL & Affiliates
