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NAFCU is offering a free webinar next week to help credit unions determine their institution's readiness to handle a pandemic as the threat of the coronavirus increases. Financial regulators recently released pandemic preparedness guidance and have also encouraged financial institutions to be ready to help consumers who experience financial hardships as a result of the virus.

Also, NAFCU Regulatory Compliance Counsel Reginald Watson has a new Compliance Blog post out today further detailing the Federal Financial Institutions Examination Council's (FFIEC) recent pandemic preparedness guidance. Read the blog here.

The webinar is scheduled for 2 p.m. Eastern Tuesday. While it is free, registration is required. It will be available on-demand for a year after the initial airing.

NAFCU is closely monitoring the spread of COVID-19 – the disease caused by the coronavirus – and has a resource page available online to help credit unions stay in-the-know of recent developments. The association previously encouraged credit unions to review their business continuity plans to address the coronavirus.

During Tuesday's webinar, credit unions will:

• learn more about pandemics;
• identify their credit union's pandemic plan;
• discuss how to effectively communicate with employees and members the credit union's efforts to monitor and address the situation;
• prepare for likely scenarios; and
• review ways to mitigate risk.

Register for the webinar here.

NAFCU will continue to update credit unions on the potential economic and operational effects the coronavirus could have on the industry.