Cooperative Financial Institutions (CFIs) in times of Covid-19: An updated dialogue- Webinar - December, 09, 2020 09:00AM EST

Cooperative Financial Institutions, CFIs, face very specific challenges in addressing the impact of COVID-19 which stem from their cooperative nature as well as from their ability to access public resources to cope with the consequences of the pandemic. Following up on a webinar that was held in July of 2020, ), a distinguished panel of regulators and CFI representatives will have a dialogue to discuss the situation in their institutions and countries, looking at.. Read more

Stress Testing in Crisis: Helping Savings and Credit Cooperatives in Mexico During COVID-19 by the Center for Financial Inclusion (Authors: Gabriela Zapata, Jacob Winiecki, Jorge Hernandez) [Special COVID-19]

As we’re writing this, there are officially over 150,000 COVID-19 cases in Mexico, where BFA Global and MetLife Foundation have launched FinnSalud, a 3.5-year program focused on financial health, helping cooperatives and their members withstand the impacts of the pandemic. During this crisis, financial service providers (FSPs) focusing on low- to moderate-income populations are particularly vulnerable due to increasing liquidity constraints and have critical roles to play to help clients weather the storm. More...

Coronavirus and Cooperative Financial Institutions, an agenda for the future by Juan Buchenau [Special COVID-19]

The pandemic is affecting severely ample segments of the global population, including members of Cooperative Financial Institutions as well as the cooperatives themselves, exposing their strengths and weaknesses; and, also, opening opportunities and challenges that should be addressed in an “agenda for the future”. More...

A Framework for Weathering the COVID-19 Economic Fallout in Financial Cooperatives by Dave Grace [Special COVID-19]

“We are already seeing liquidity pressure on some of our savings and credit cooperatives” was the refrain last week from several financial cooperative supervisors when 30 of them gathered for an ICURN webinar to discuss the economic effects of COVID-19. While the responses to date by central banks and financial sector supervisors to the economic fallout has generally been swift and forceful, the inclusion of financial cooperatives in these safety measures has been lacking. More...

COVID-19 Related Links

ICURN: Covid resources for supervisors of CFIs: https://www.icurn.org/covid-19-response.html
EACB: Covid actions of European Cooperative Banks: http://www.eacb.coop/en/news/covid-19.html
WOCCU Covid Resource: https://www.woccu.org/newsroom/covid19_resources
Covid measures by Sicredi Cooperative Bank Brazil (in Portuguese): https://www.sicredi.com.br/coop/posicionamento-coronavirus/
Covid measures by Caja Popular Mexicana (in Spanish): https://www.cpm.coop/pa2020
Covid suggestion by Coop_Bank in Kenya to engage in digital banking: https://www.co-opbank.co.ke/sites/default/files/1CovidPosters_Banks%E2%84%97_Coop%20%283%29_0.pdf
CUNA USA, Covid response center: https://www.cuna.org/Coronavirus-Disease-(COVID-19)/
survey on impact of COVID on Credit union members in the USA: https://www.gallup.com/workplace/308306/credit-union-members-things-during-covid-crisis.aspx

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