COVID-19: Limitation of Services/Branch Closures
Iowa credit unions are required to provide notice to the Superintendent at least 60 days prior to ceasing operations at any credit union office*. Due to the current COVID-19 state of emergency, and in accordance with the cited code provisions, the Superintendent is requiring each credit union to notify the Division in writing via email of its intention to cease operations or to limit services at any location in a timeframe that is as practicable as possible.
The required written notice must be done via email correspondence. No specific form needs to be completed if the change in operations is related to COVID-19. However, each credit union is expected to provide a detailed explanation of where and what restrictions/limitations/closures are being implemented as well as a copy of the correspondence being provided to members. Written communication should be emailed to: Kevin Gorman - email@example.com
Additional emergency information can be found in the IDCU COVID-19 updates/ Important Information.
* Pursuant to Iowa Code Section 533.301(19) and the corresponding rule found in 189-6.2(533).