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Financial Services Law Insights and Observations

North Carolina issues guidance for credit unions during Covid-19

State Issues Covid-19 North Carolina Credit Union

State Issues

The North Carolina Credit Union Division notified state-chartered credit unions of certain accommodations for Covid-19. These include (i) conducting examinations offsite; (ii) granting extensions of the deadline to submit quarterly call reports; (iii) conducting meetings electronically, (iv) discouraging in-person board meetings; and (v) permitting the postponement or cancellation of required annual meetings.