Includes resources for business continuity plans and guidance from regulators.

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Last updated: April 29, 2020  3:45 p.m.

Loan Modification Template Resources

Trent Law Firm, PLLC has created loan modification template resources for use by ICUL credit union members. 

  • Promissory Notes for COVID-19 Emergency Funds (Individual and Entity Members)

  • Corporate Resolution Authorizing Electronic Meetings

  • Corporate Resolution Addressing Members in Good Standing, Emergency Loans and Not Requesting Medical Documentation

Last updated: March 18, 2020  10:00 a.m.

Iowa Division of Credit Unions

The Division has resources available for Iowa credit unions. Visit their website for Frequently Asked Questions.

Last updated: March 23, 2020  10:00 a.m.

FinCEN Guidance

FinCEN released an advisory requesting credit unions notify them if there will be delays in their ability to file BSA reports due to COVID-19 impacts on employees.

Read FinCEN's notice on illicit financial activity

Last updated: March 23, 2020  10:00 a.m.

Business Continuity Plans

Every credit union should have a BCP plan ready in case of an emergency situation. BCP plans should be reviewed each year, tested and employees should be trained on how to respond. 


Iowa credit unions can contact PolicyWorks for guidance on business continuity plans. 

Last updated: April 30, 2020  9:00 a.m.

Suspending of Foreclosures

The Governor's proclamation on 3/22/2020 suspended foreclosures on residential, commercial and ag properties. This does not suspend a person's obligations to make mortgage payments. 

The Governor issued a proclamation on 4/27/2020 addressing debt collection practices and extended suspensions on foreclosures. Read the code pertaining to credit union compliance.

Contact PolicyWorks with questions.

Last updated: April 8,2020  4:00 p.m.


PolicyWorks has a resource page available to locate information about regulatory compliance issues and guidance from the NCUA and other regulators.

Questions? Contact the PolicyWorks Hotline.

Last updated: March 30, 2020  4:00 p.m.

CUNA Resources

CUNA's website features a variety of different news items as they relate to COVID-19 and credit unions. Follow along with the work of CUNA's team here.

Last updated: April 10,2020  3:00 p.m.


Congress passed its third coronavirus relief package, the CARES Act, that provides relief for both individuals and businesses.

Summary of the bill's provisions that impact credit unions

U.S. Chamber of Commerce resources


Paycheck Protection Program

PolicyWorks Guidance on PPP

SBA Guidance on PPP

Last updated: March 23, 2020  10:00 a.m.

NCUA Guidance on Helping Members

During this time, many will face economic challenges. The NCUA has issued guidance to credit unions to allow member support through loan modifications and other measures the credit union would do to help members. Ensure documentation and communication with your board of directors for actions taken. 

Last updated: April 30, 2020  12:00 p.m.

Frequently Asked Questions

Find answers to frequently asked credit union questions by visiting the FAQs section of this website, where you can search for content by using the magnifying glass icon on the right side of the page.

If you have a question that you haven't found an answer for, email and the ICUL team will help connect you with relevant resources!

This situation, including the response by the state and federal government, continues to change rapidly. The content is based on information known at the time of posting and may not have yet been updated at the time you view it, so we strongly recommend that you regularly check the resources sent out. Content provided by ICUL is for educational and informational purposes only and is not legal services, legal advice or in any way establishes an attorney-client relationship. Readers should consult an attorney to understand how this content relates to their individual situation.

© 2020 by Iowa Credit Union League