New updates added to Association’s PPP resource center to assist credit unions

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The New York Credit Union Association continues to update resources that are available to credit unions during the COVID-19 pandemic, including its online resource center to help credit unions navigate the SBA’s Paycheck Protection Program.

The PPP is a major component of the recently enacted CARES Act, and many credit unions have reached out to the Association for guidance on how to become an SBA lender for PPP purposes.

The Association’s PPP resource center includes links, resources, frequently asked questions and other valuable information that can help credit unions navigate the PPP process. Additional information is added as the Association receives it.

New to the resource center this week:

  • PPP loan forgiveness application;
  • instructions for setting up a SBA user account with CAFS;
  • SBA procedural notice – PPP Lender Processing Fee Payment and 1502 Reporting Process; and
  • the latest PPP FAQ, updated May 19.

The PPP resource center can be accessed on the Association’s website.

The Association also has a coronavirus resource page to assist credit unions with navigating issues related to the 2019 novel coronavirus and other pandemics and outbreaks. In addition to compiling resources for credit unions, Association staff is available to answer specific operational, human resources or compliance questions member credit unions may have about the coronavirus. The coronavirus resource page can be accessed on the Association’s website.

The Association continues to monitor the current public health and economic crisis closely, and will continue to provide updates on its resources pages as they occur.

 

 

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