More than half of Asian credit union members and employees cited health risks and a lack of emergency savings as "very relevant" challenges they are facing due to the COVID-19 pandemic, according to the results of a June survey conducted by the Association of Asian Confederation of Credit Unions (ACCU)—an associate member of World Council.
More than 50% of credit union members cited health risks due to age or weakened immune systems as very relevant challenges, while 69% of employees put health risks associated with member services in that same category.
While health risks were listed as the top challenge by employees, an "inability to pay loans due to loss of income source" topped the list for members—with 75% citing it as a very relevant challenge.
55% of members surveyed listed "no emergency savings" as a very relevant concern, as did 52% of employees.
ACCU reported 89 respondents to the survey, all from countries seeing a "spiking infection" of the virus.