DFS advises credit unions on use of temporary facilities

The New York State Department of Financial Services (DFS) recently provided New York State-chartered credit unions with guidance on the use of temporary facilities.

The facilities can include mobile service units, tents, booths, tables, or similar stations, Maria Vullo, financial services superintendent, said in a June 28 DFS news release.

Credit unions seeking to establish temporary facilities to provide "limited" services may provide such services on notice to DFS without requiring a prior application with DFS.

Those services do not include certain monetary transactions, such as signing up new members, according to the DFS.

Under the new guidance, credit unions must provide DFS a schedule listing upcoming times and locations of the temporary facilities.

They also must provide the...