News

Wisconsin banks and credit unions focus on service

March 24, 2020

Despite the COVID-19 pandemic, Wisconsin banks and credit unions will continue to focus on service to meet the financial needs of consumers and businesses, according to a press release.  Prior state and federal regulations required these institutions to have a business continuity plan for critical situations such as a pandemic in place, and these plans and procedures are currently being enacted. State financial institutions are working to communicate to consumers that their money is safe within a bank or credit union. Deposit insurance covers at least $250,000 per person in funding.

Wisconsin Credit Union League and Wisconsin Bankers Association members will help to assist customers through the financial hardships they may encounter in the coming weeks. Banks will have drive-through only access and limited hours and work with those customers who need to schedule an in-person appointment. Many of the state’s financial institutions also offer remote-access technologies, including mobile account access, telephone banking, and ATMs.

To ensure financial wellness of both the businesses and consumers they serve, banks and credit unions will remain in constant contact with federal, state, and local officials strategizing public and private financial resources. All possible options for expanding access to credit, in collaboration with regulators and other government agencies, will be explored.

Founded in 1934, the Wisconsin Credit Union League is a not-for-profit trade association for more than 3.3 million state members. The Wisconsin Bankers Association is the state’s largest financial industry trade association, representing nearly 235 commercial banks
and savings institutions, nearly 2,300 branch offices and 21,000 employees.