NCUA Activates Disaster Relief Policy after Colorado Flooding
The National Credit Union Administration is encouraging credit unions in areas distressed by severe flooding in Colorado to make prudent loans with special terms and reduced documentation for members affected by the disaster, among other things.
Modifications may include extending the terms of loan repayments, restructuring a borrower's debt obligations, and easing credit terms for new loans to certain borrowers, consistent with prudent practices. Read More
The National Credit Union Administration is encouraging credit unions in areas distressed by severe flooding in Colorado to make prudent loans with special terms and reduced documentation for members affected by the disaster, among other things.
Modifications may include extending the terms of loan repayments, restructuring a borrower's debt obligations, and easing credit terms for new loans to certain borrowers, consistent with prudent practices. Read More
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