The Ohio Credit Union League is committed to connecting credit union leaders with preparedness assistance, sharing insights on the evolving COVID-19 situation, and providing information on state and federal assistance that can provide relief to credit union members and member businesses during this challenging time. This page will serve as a central location for updates and resources for Ohio credit unions during the outbreak. Please check in regularly and don’t hesitate contact us directly with questions.
COVID-19 Relief Grant
The COVID-19 Relief Grant provides credit unions with an opportunity to help their members mitigate the financial impact of the COVID-19 pandemic by offsetting the costs of groceries, utilities, or rent.
Check out the League’s Paycheck Protection Program overview to help your credit union offer this special SBA program to your member business owners impacted by COVID-19 restrictions.
RESOURCES FOR CREDIT UNIONS
June 16, 2020 – The League joined a coalition urging Governor DeWine to invest a portion of Ohio’s federal Coronovirus Relief Fund towards emergency rental assistance. Read the full letter.
May 31, 2020 – The League focused advocacy efforts this week on Paycheck Protection Program (PPP) forgiveness flexibility and guidance, joining Ohio business associations on a letter to the Ohio congressional delegation and joining CUNA, AACUL, and other state leagues on a letter to the Treasury and SBA.
April 17, 2020 – The League requested the Ohio General Assembly further empower Ohio credit unions, as community-based financial first responders, to do more for Ohioans and local communities as full and equal partners in the state’s recovery efforts. Read the full letter.
April 16, 2020 – The League reached out to the Ohio congressional delegation to request support for the Main Street Recovery and Investment Act and other credit union policy recommendations.
April 15, 2020 – OCUL Government Affairs Committee Chair Barry Shaner provided testimony and credit union recommendations to the Ohio House 2020 Economic Recovery Task Force.
Economic Impact Payments
- Find the latest information from the Internal Revenue Service (IRS) on their Coronavirus Tax Relief and Economic Impact Payments webpage.
- Read the notice from the Ohio Attorney General on exemption of payments from attachment, garnishment, or execution.
- Administrative Guidelines from the Ohio Division of Financial Institutions (updated 04/17/2020 with guidance on incoming economic impact payments)
- Secret Service guidance on stimulus check security features.
Paycheck Protection Program
- Paycheck Protection Program Increase Act of 2020 full text, section-by-section analysis, and League summary of credit union impact (updated 4/22/2020)
- Check out the League’s Paycheck Protection Program Overview to help your credit union offer this special SBA program to your member business owners impacted by COVID-19 restrictions.
- Incumbency Certificate Form
- SBA Form 3506
- For any lending specific questions, please contact the SBA Lender Call Center at 833-572-0502.
- Recent Updates to the SBA PPP Rules and Forgiveness Forms
- Contact PolicyWorks by email or at (866) 518-0209 with any COVID-related compliance questions.
- PolicyWorks Compliance Resources for Credit Unions
- InfoSight pandemic preparedness resource page (includes fact sheets, FAQs, model policies, and more)
- CU Policy Pro (Pandemic Preparedness Policy 2195, FFCRA Policy 1515, and CARES Act Policy 7436, and more)
- Administrative Guidelines from the Ohio Division of Financial Institutions (updated 04/17/2020)
- Federal Reserve Guidance for Loan Modifications
- American Share’s Guide to the CARES Act
- Interagency Examiner Guidance Amid the COVID-19 Pandemic
Federal News and Resources
- Centers for Disease Control and Prevention
- NCUA Annual Meeting Guidance
- Loan Modification Flexibility
- Federal Reserve Extensive Measures Announcement
- Regulators Address Debt Restructurings and Reporting Amid COVID-19
- U.S. Department of Labor information on COVID-19 effects on wages and hours worked under FLSA, FMLA and FFCRA
- Guidance from NCUA
- Guidance for Screening Employees
RESOURCES FOR CREDIT UNION MEMBERS
- Ohio Job and Family Services – Unemployment relief for employees without paid leave impacted by closures and operating restrictions.
- Ohio Liquor – Economic assistance for small businesses needing to return unopened high proof liquor products purchased within the past 30-days.
- U.S. Small Business Administration – Economic Injury Disaster Loans, that offer small businesses and non-profits necessary capital to survive until normal operations resume following a disaster.
- Development Services Agency – Utility assistance programs have been extended, including the Winter Crisis Program and Home Energy Assistance Program.
- Small Business Owner’s Guide to the CARES Act – Information on programs and initiatives that will be available through the Coronavirus Aid, Relief, and Economic Security Act.
- Internal Revenue Service (IRS) – Updates and information about economic impact payments.
- Resources from the Consumer Financial Protection Bureau
- Federal Trade Commission – tips for dealing with recent and emerging scams
- Consumer Alerts – subscribe to receive information on the latest scams