Week ahead: Nationwide protests persist, primaries planned for Tuesday
Credit unions are tasked with keeping their doors open and protecting branches while demonstrators have flocked to the streets over the last several days.
Protests in Minneapolis erupted last week following the death of George Floyd, a black man killed in police custody, which have led to demonstrations across the United States.
Protests were held in at least 140 cities since Floyd has passed, according to the New York Times. Nearly 40 cities imposed some form of curfew while some activated the National Guard. Some credit unions in affected areas have temporarily closed branches, including several with locations near Minneapolis. Others in California also decided to temporarily close locations. At least one branch of the Police Credit Union in San Bruno, Calif., was shuttered while SafeAmerica in Pleasanton, Calif., closed all four of its locations.
"For the safety of our employees and members, SafeAmerica Credit Union branches will be closed Monday, June 1 in response to the Alameda County alert sent Sunday. Residents are advised to stay home due to civil unrest in the area. Our call center will remain open," SafeAmerica said on Twitter.
Primaries will be held in at least seven states — Iowa, Indiana, Maryland, Montana, New Mexico, Pennsylvania and South Dakota — on Tuesday. Tuesday is also the deadline for voters to return ballots in Idaho's primary. That election was originally scheduled for two weeks ago but officials conducted voting by mail because of the coronavirus pandemic.
The Credit Union National Association is backing 39 candidates running and is closely watching three races, according to a press call on Monday. In the Democratic primary, the trade group is supporting Rep. Ben Ray Luján, D-N.M., who is running for an open U.S. Senate seat, and Teresa Leger Fernandez, a Democrat running for New Mexico's 3rd Congressional District.
CUNA is also watching the race for the U.S. House held by the late Congressman Elijah Cummings, who passed away last year. Democrat Kweisi Mfume won the special election to fill the seat in April and is now seeking to serve a full term.
The Senate is in session this week, and the Senate Banking Committee is slated to hold two hearings. On Tuesday, the body will meet to discuss implementation of Title IV of the CARES Act, which provides up to $500 billion in loans and guarantees to Federal Reserve initiatives to support businesses. On Thursday, the committee will hold a hearing titled "Crisis in Hong Kong: A review of U.S. Policy Tools."
The House of Representatives will hold committee meetings, but no votes are expected until later this month.