Texas regulator urges credit unions to meet member needs

State Issues Covid-19 Texas Credit Union Consumer Finance

On April 1, the Texas Credit Union Department issued an informational memorandum encouraging state-chartered credit unions to consider taking steps to assist members adversely impacted by Covid-19. Among other considerations, the department urged credit unions to waive fees, increase cash withdrawal limits, waive early withdrawal penalties on time deposits, and allow borrowers to defer or skip some payments, among other things.