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The Credit Union Advocates

  • PPP loan forgiveness process concerns shared with SBA/Treasury

    Jun
    03
    PPP loan forgiveness process concerns shared with SBA/Treasury

    As credit unions continue to work on Paycheck Protection Program (PPP) loans for their members, the Heartland Credit Union Association has worked on two fronts to convey concern with ongoing changes made by the Treasury and Small Business Administration (SBA) after loans have already been issued.

    Posted By Nora Revie read more
  • Paycheck Protection Program updates and new legislation possible

    May
    22
    Paycheck Protection Program updates and new legislation possible

    The Paycheck Protection Program (PPP) Loan Forgiveness Application is finally available, along with Form 1502 for lenders, with Frequently Asked Questions updated on May 19. The U.S. House is working on a new bipartisan bill that would address PPP reforms. H.R. 6886 would remove some of the restrictions on how businesses use PPP loans.

    Posted By Susan Dyer read more
  • Estes writes Treasury urging clarification for federally chartered credit unions

    May
    05
    Estes writes Treasury urging clarification for federally chartered credit unions

    Federally chartered credit unions are getting help from U.S. Rep. Ron Estes (R-KS District 4). Estes, together with Congresswoman Linda Sanchez (D-CA) sent a letter to the U.S. Treasury urging the agency to clarify language in the Family First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). 

    Posted By Susan Dyer read more
  • Kansas Governor provides framework for state to begin reopening in phases

    May
    01
    Kansas Governor provides framework for state to begin reopening in phases

    Kansas Governor Laura Kelly issued two executive orders that provide a framework for the state to begin reopening in phases. Executive Order 20-28 extends some of the Governor’s existing orders, including extending the temporary prohibition on COVID-related mortgage foreclosures until May 31.

    Posted By Susan Dyer read more
  • COVID-19 and Legislative Action

    Apr
    28
    COVID-19 and Legislative Action

    The Paycheck Protection Program reopened Monday with an additional $310 billion in funds for businesses, with the system crashing frequently and credit unions experiencing severe issues getting applications submitted. Plus, read what's happening on a state level in Missouri and Kansas.

    Posted By Susan Dyer read more
  • Paycheck Protection Program expanded - new money anticipated on MONDAY

    Apr
    24
    Paycheck Protection Program expanded - new money anticipated on MONDAY

    The new Paycheck Protection Program bill gives credit unions and other community lenders specific funds to help members gain access to this program. President Trump signed the Paycheck Protection Program Increase Act of 2020 into law at 11 a.m. CST on Friday, April 24, following votes by the U.S. House on Thursday and the U.S. Senate on Tuesday authorizing an additional $310 billion in funds for businesses.

    Posted By Susan Dyer read more
  • Updated Paycheck Protection Program FAQs, interim rules and your questions answered

    Apr
    16
     Updated Paycheck Protection Program FAQs, interim rules and your questions answered

    Read the latest from the Paycheck Protection Program including FAQs and interim final rule. Plus, we've compiled the answers to your PPP and SBA questions.

    Posted By Susan Dyer read more
  • Updates and highlights to help you navigate SBA information

    Apr
    10
    Updates and highlights to help you navigate SBA information

    Credit unions – along with other financial institutions - continue to experience challenges with the implementation of the Small Business Administration PPP loan program, which rolled out one week ago today. We are advocating on your behalf on multiple levels, and resources are updated daily on our website. Here are some highlights to help navigate through the information.

    Posted By Susan Dyer read more
  • SBA top-of-mind for credit unions: Here are resources to help

    Apr
    03
    SBA top-of-mind for credit unions: Here are resources to help

    The Small Business Administration lending changes due to the CARES Act (Phase 3) is top-of-mind for many of you right now. We’re working with policymakers, industry partners and CUNA to get information out as soon as possible.
     

    Posted By Susan Dyer read more
  • What recent federal updates mean for your credit union

    Mar
    31
    What recent federal updates mean for your credit union

    As significant economic stimulus and response measures become law, credit union questions grow. Most recently, the Cares Act (Phase 3 stimulus package) includes specific sections addressing financial services issues with impact to credit unions. We are hosting a webinar on April 2 that will focus on advocacy and compliance issues affecting credit unions. Credit union presidents/CEOs received an invitation today.
     

    Posted By Susan Dyer read more

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