Consumer Coronavirus Resources

Credit Unions Can Help You Navigate Financial Uncertainty

As not for profit financial institutions, credit unions put their members first and can help address financial concerns in unprecedentedConsumer Resources uncertainty. Your money is safe and accessible and credit unions can put you in touch with additional resources that may be available. This is what you need to know:

  • The Minnesota Credit Union Network urges members to use online tools or call your credit union to transfer or understand financial options.

  • Any cash withdrawal eliminates the NCUA insurance, and could put people’s public safety at risk.

  • All Minnesota credit union deposits are insured by the National Credit Union Administration (NCUA) per individual up to $250,000, just as bank deposits are insured by the FDIC.
  • If you have lost your job, or are experiencing financial stress please contact your credit union directly. As community-based not-for-profit organizations credit unions are tracking state and federal initiatives that will help our members. We will make information available as it is finalized.

  • Most Minnesota Credit Unions offer the following services:
    • Deposit checks electronically
    • Transfer funds
    • Make loan and credit card payments
    • Apply for an account or loan
    • Send cash electronically

Minnesota Credit Unions Remain Open to Serve

 Credit Unions are an essential service and are open to serve during Stay at Home order for Minnesota. 

As financial institutions are an essential service, Minnesota Credit Unions remain open to serve members during the Stay at Home order declared by Governor Walz: https://www.mncun.org/news/497239/-Minnesota-Credit-Unions-Remain-Open-to-Serve.htm


Health Related Resources

Center for Disease Control (CDC)

Minnesota Department of Health’s COVID-19 updates, resources, and guidance.

Mayo Clinic COVID-19 page with symptoms, causes, risk factors, and prevention information.

 


Getting Financial AssistanceSafe, Sound and Secure

Minnesota Credit Unions are committed to meeting the financial needs of our members through this evolving situation. Contact your credit union if you have financial concerns and they may be able to provide emergency loans or skip-a-payment options. If you are not already a member, visit yourmoneyfurther.org to find a credit union near you.

UNEMPLOYMENT

ECONOMIC INJURY DISASTER LOANS

Small Business Administration: Working capital loans to help small businesses meet financial obligations that cannot be met as a direct result of the disaster.   

HOUSING

FOOD

Second Harvest Heartland

UTILITIES


LSS Financial Counseling

 


Avoiding Scams

The Minnesota Department of Commerce

Urging Minnesota consumers to be on alert for potential scams created to take advantage of the fear, isolation, and uncertainty during this unprecedented time. 

In addition, consumers should be asking the following questions about every e-mail, phone call, and piece of mail they receive because the answers could trigger potential red flags for fraud and scams:

  • Is the e-mail, phone call, or mail from someone you don’t know?
  • Is the sender, caller, or item offering you something that seems too good to be true?
  • Is the sender, caller, or item using language to incite fear or threaten you?
  • Is the sender, caller, or item urging you to “Act Now” before it’s too late?
  • Is the sender, caller, or item requesting payment from you and promising to give you something in return after your payment?

Minnesota consumers should be cautious.  If there is doubt about the sender, caller, or the idea being pitched - Hang up. Delete the e-mail.  Recycle the mail.  

At this time, the Department does not have any reported cases of COVID-19 financial scams. If you have questions or if you believe you may have been the victim of a scam or fraud, please contact the Commerce Department’s Consumer Services Center by e-mail at consumer.protection@state.mn.us

Minnesota’s Attorney General Keith Ellison has advised consumers to be hyper-aware of COVID-19 scams and report price gouging.  Information can be found at: https://www.ag.state.mn.us/Office/Communications/2020/03/13_CoronavirusScams.asp

Attorney General Ellison warns Minnesotans about COVID-19 phishing attacks: https://www.ag.state.mn.us/Office/Communications/2020/03/24_CovidPhishingScams.asp


News

Minnesota Department of Commerce Consumer Alert: Commissioner Kelley Reassures Minnesota Residents on the Security of their Deposits in Financial Institutions

https://mn.gov/commerce/media/news/?id=424453

Guidance on Cash During Pandemic + Consumer Resources: CDC advises against using cash. Mobile banking offers access and robust tools.

 https://www.mncun.org/news/495370/

Minnesota Credit Unions to Consumers: Do Not Withdraw Large Amounts of Cash, Beware of Scams

https://www.mncun.org/news/494154/Minnesota-Credit-Unions-to-Consumers-Do-Not-Withdraw-Large-Amounts-of-Cash-Beware-of-Scams.htm

Banks, credit unions closing branches in response to coronavirus threat
Many drive-throughs, ATMs remain open, as well as mobile banking. 

http://www.startribune.com/banks-credit-unions-closing-branches-in-response-to-coronavirus-threat/568869392/


Online Financial Education Resources – for Parents and Teachers

MnCU Jr Financial Education AppSponsored by the Minnesota Credit Union Foundation, this app teaches simple money concepts through tools for kids to manage their money and financial games for ages 2 to 12. Available in your app store.

Biz Kid$The overall objective of Biz Kid$ is to engage young people and help them develop life skills in the areas of money management and entrepreneurship. The initiative includes an Emmy award-winning television series, free classroom curriculum, outreach activities, and a website targeting kids 9 – 16 year olds. Biz Kid$ is exclusively funded and by credit unions!

My Money.GovThe Department of the Treasury prepared report highlighting the importance of financial literacy and education for all Americans and identifies ways to improve the delivery of financial education. A special section provides information about and links to a collection of federal guides and curricula for teachers; and another area provides games, fun activities, websites, video games, and information about money for kids and youth

University of Minnesota ExtensionUniversity of Minnesota Extension helps Minnesotans explore and understand how to secure stable housing, manage the safety and efficiency of homes, and better plan for your financial future.

Minnesota Council for Economic Education – distance learning resources

National Endowment for Financial Education

Best PrepBestPrep is a Minnesota-based nonprofit organization that provides educational programs to students in grades 4-12, with the mission of preparing students with business, career, and financial literacy skills through hands-on experiences that inspire success in work and life. Play the Stock Market Game with kids while they’re at home and want to learn to invest.

Jump$tart ClearinghouseSearch the premier online library of financial education resources for teachers, parents, caregivers, and anyone committed to financial smarts for students.

Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034