During this time, we’d like to take a moment to demonstrate the value of having a business model focusing on Concern for the Community, Cooperative Principle Number 7.
What our CDOs are doing: this excel matrix provides an overview of the response from our cooperative development organizations as they work to combat COVID-19 around the globe.
Cooperatives Respond to COVID-19: Cooperatives take action in areas surrounding worker protection, supply chain stabilization, support for community, and advocating for government action.
World Council, VP of Advocacy, Andrew Price has developed a list of COVID-19 regulatory impacts by member nation to help its members.World Council also created a resource for the latest coronavirus (COVID-19) news, information and recommendations specifically relevant to credit unions across the globe. All of the content is provided by World Council, its members, or their affiliated credit unions and financial cooperatives.
The NCBA CLUSA Response Has Been Comprehensive. Providing both original content and curated resources for the cooperative business community. “Addressing and amplifying ways to prepare for and mitigate the risks of COVID-19, including how co-ops can handle business functions such as travel, events, telework policies and contingency planning while also addressing productivity, staff anxiety and maintaining workplace norms.”The Credit Union of Southern California Gave Employees $1,000.00 and donated masks to a hospital. This U.S. credit union that was well ahead of the curve in preparing for the Coronavirus (COVID-19) Pandemic is now taking unprecedented steps to help its employees and communities get through the crisis.Vancity Credit, out of Vancouver, B.C. has deferred mortgage payments up to 6 months. Vancity initially responded by introducing a three-month loan deferral program for members. It is clear the effects of the pandemic will last longer, so Vancity announced an extension of that deferral program for a term of up to six months. Including mortgages and other loans and will support members facing financial uncertainty and vulnerability from the fallout of Coronavirus.#coopsvscovid.The Canadian Association for Studies in Co-operation (CASC) is proposing a social media strategy on Twitter to promote the response of co-ops to the on-going crisis induced by the COVID19 virus. The purpose of the strategy is to illustrate the “co-op difference” by highlighting the concern of co-ops and their innovative responses to the various impacts of the crisis on their members and the broader community. The strategy is simple. We are asking co-operative institutions (e.g., CMC, provincial associations, federations, co-operative institutes and programs, etc.) to endorse and promote the use of a hashtag – #CoopsvsCovid – that their members can use to share their stories through Twitter (with links to their webpages, etc. as appropriate).
World Council of Credit Unions President & CEO Brian Branch and VP of Advocacy Andrew Price created this webinar to address the regulatory advocacy challenges faced by members and their credit unions in coping with the coronavirus (COVID-19) pandemic, and offer guidance and best practices for dealing with the crisis.
NCBA CLUSA and law firm Dorsey and Marsh, a global leader in insurance brokering and risk management, held a webinar for the cooperative community regarding COVID-19 and effects on cooperative businesses. These legal and insurance experts provided advice on preparing your cooperative for potential business interruptions related to the coronavirus (COVID-19) outbreak. You’ll learn critical risk management and insurance strategies to mitigate potential business interruptions, as well as government relations actions and highlights regarding the impacts of COVID-19.