Credit Unions Considered “Essential” under Governor Justice’s Executive Order to Close Businesses — 3/24/20
With non-essential businesses being shut down by the West Virginia Governor’s Executive Order 9-20 issued Monday afternoon out of COVID-19 virus health concerns, credit unions may remain open as outlined in Section J of the eleven page order (see attached). The order is based on the Essential Services guidance issued by the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA).
“During these unprecedented times, we thank Governor Justice for recognizing that credit unions are the first financial responders for consumers and small businesses across the state,” stated West Virginia Credit Union League President Ken Watts. “Credit unions remain ready and able to serve members albeit through their drive-throughs, by phone, or online in a safe manner during this pandemic,” Watts emphasized.
In West Virginia, 86 credit unions representing over 380,000 member-owners operate to provide affordable financial services to people from all walks of life.
Since they are independently governed, Watts encouraged members to contact their local credit union to see what new guidelines and hours of operation have been established.
In West Virginia, all credit unions are federally insured, and offer a safe place for credit union members to save money. All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor. Credit union members have never lost a penny of insured savings at a federally insured credit union.
Additional information on NCUA share insurance coverage for consumers is available at mycreditunion.gov.
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