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Question 3 - Credit Portfolio Management You are the Manager of FirstChoice Cooperative Credit Union(FCCCU), the second largest credit union by asset size operating in

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Question 3 - Credit Portfolio Management You are the Manager of FirstChoice Cooperative Credit Union(FCCCU), the second largest credit union by asset size operating in Saint Helena. Your country has recently reported three (3) cases of the novel coronavirus (COVID - 19). The Government of your country has already responded by imposing quarantines, curfews, closure of its ports of entry and closure of schools and non-essential businesses. Your credit portfolio is structured as follows: Mortgages - 20% Food and beverages - 25% Tourism - 30% Entertainment industry - 25% Your Board of Directors have requested the following: Assess the impact of the covid-19 on the credit union's credit portfolio. (10 marks) Suggest three reasonable measures that the credit union can take to assist its members during this challenging time without adversely affecting its financial position. (6 marks) Suggest two (2) policy actions the Government of the territory can take to assist credit unions. (4 marks)

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