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Showing posts with the label credit unions

Paycheck Protection Program Increase

Today's addendum to the CARES Act includes the following:

Section 101 provides amendments to the Paycheck Protection Program and to the Economic Injury Disaster Loans, and Emergency Grants.

The agreement increases the authorization level for the Paycheck Protection Program from $349 billion to $659 billion, and increases the authorization level for the Emergency Economic Injury Disaster (EIDL) Grants from $10 billion to $20 billion.

See our video on the EIDL Program: https://youtu.be/SzwQp11n-YQ(As we said in the video, you will want to document your EIDL and PPP applications. We still feel this program will have a hard time reaching women, Black, Hispanic and Asian small businesses. It has also been shown to provide more loans to red states than blue.)

The law also creates a set-aside for Insured Depository Institutions, Credit Unions, and Community Financial Institutions for the Paycheck Protection Program. It defines Community Financial Institutions as minority depository insti…

NCUA’s Diversity and Inclusion Strategic Plan

Last week, the national Credit Union Administration released it's Diversity and Inclusion Strategic Plan for 2012-2016. The Plan is an outline of the diversity goals of the Agency. NCUA is responsible for the supervision of the nation's credit unions.

The plan is a competent strategic document, but does not address diversity at the entities regulated by the NCUA.

A copy of the plan can be found at: http://www.ncua.gov/about/Documents/Agenda%20Items/AG20120315Item2B.pdf

Bank Transfer Day - November 5, 2011

According to one site on the internet (must be logged into Facebook to follow this link):

"Together we can ensure that these banking institutions will ALWAYS remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won't support companies with unethical business practices.

• Research your local credit union options
• Open an account with the one that best suits your needs
• Cancel all automatic withdrawals & deposits
• Transfer your funds to the new account
• Follow your bank's procedures to close your account before 11/05


FIND A CREDIT UNION
USA: http://www.findacreditunion.com/
CANADA: http://locator.cucentral.com/
UK: http://www.findyourcreditunion.co.uk/"

We think this is an interesting idea. If there is a free market for the provision of financial services, then this should be a welcomed initiative. If consumers are …