Secretary of State Deb Markowitz announced today that the Redstone offices of the Vermont State Archives and Records Administration (VSARA) will be moving to the record center on Route 2 in Middlesex. The move, which will occur during the week of March 9th, is part of an ongoing effort to consolidate and improve the services of VSARA. Last year the legislature passed a law that transferred the functions of the Public Records Division to the Archives Division of the Secretary of State s Office, said Markowitz. This creates a single, professional voice for advising agencies on the management of their records from point of creation to final disposition, thus increasing efficiency and improving service.During this transition, some disruption in services is anticipated. On March 9th and 10th, limited notary and administrative procedure act services will be available at Redstone, but the reference room will be closed. The Middlesex vital records services will be open on a limited basis on the 9th and 10th. Both operations will be closed from Wednesday, March 11th until Monday, March 16th. Certain records, including legislative committee, gubernatorial, surveyor general, and Manuscript Vermont State Papers records will remain at Redstone until new vault facilities are completed at Middlesex. These records are available for review by appointment only by calling (802) 828-2308.For more information about the services provided by the Vermont State Archives and Records Administration, visit our website at http://vermont-archives.org/(link is external)Source: Vermont Secretary of State
This post is currently collecting data… This is placeholder text continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The University of Hawai’i Federal Credit Union was spearheaded by 10 UH colleagues in the mid-1950s. Now, the credit union serves more than 30,000 members, including employees, students, alumni and family members of the University of Hawai’i.UFCU partnered with Zogo earlier this fall, and has seen an enthusiastic response from hundreds of students and community members who have downloaded the gamified financial literacy app to learn about personal finance — and get rewarded while they do it.Zogo content coordinator Hannah Lang spoke with UHFCU vice president of marketing Bari Carroll about financial education, the credit union’s success with Zogo and how our company can continue to improve in the future.Zogo: When did UHFCU begin its partnership with Zogo? Carroll: We just launched our partnership with Zogo at the beginning of September. It’s exceeded our expectations! The feedback from our members and community has been amazing, and we’re excited to be offering this new way of financial education that is both accessible and very engaging.
This post is currently collecting data… The initial process of qualifying a borrower for a loan is built on verifying their ability to repay the loan using the resources they have on hand, but reviewing their finances doesn’t end when the loan gets booked. If anything, 2020 has been a good example of how a borrower’s resources might change throughout the life of the loan.While commercial loan review is not something new, we believe this is an excellent opportunity to evaluate your current procedures and exposure limits. The ultimate goal is to build a loan review schedule that efficiently matches your credit union’s resources with your risks. The time that your staff has to dedicate to loan review is finite so allocating more of your team’s time to the highest risks in the portfolio is essential. Below is a simple example of different review and monitoring levels that might be appropriate for a mid-size credit union.Level I – Payment Performance onlyThese loans are selected for further review only in the event of a missed payment. Exposure limits for unsecured loans are less than $20,000 and secured term loans are less than $75,000. Time needed: minimal Level II – Payment/Score ReviewThese loans are examined annually for payment performance, personal credit scores, and business credit scores. Exposure limits for unsecured loans are $20,000 – $50,000 and secured term loans are $75,000 – $250,00.Time needed: 2 hours per loanLevel II – Full ReanalysisThese loans are re-underwritten with current financials every 1-3 years. Exposure limits for unsecured loans are greater than $50,000 and secured term loans are greater than $250,000. Time needed: 10 hours per loanThis example demonstrates how a credit union should dedicate their resources to a smaller set of loans that represent a larger credit risk to the institution, instead of spreading their time between a larger number of loans that present less risk. In addition to tying up internal resources, Full Reanalysis reviews can present a challenge with member relations. An annual request for updated financials and tax returns from a lender is not usually a busy borrower’s highest priority so it’s important to collect only when necessary.Even when the economy is stable, portfolio monitoring will continue to be a large focus of examiners and auditors. A well planned strategy that is executed consistently will ensure better portfolio outcomes and a smoother exam experience.Whether you have a seasoned book of business or are looking to begin offering business loans for the first time, Lucro Commercial Solutions can help you establish policies that maximize your impact with your borrowers. We can assist with reviews by setting up custom Tickler workflows for your team or take it a step further and outsource your reviews to our dedicated compliance specialists and business loan experts. Visit www.lucro.org/What-We-Do/Lucro-Services to learn more or contact Tami Chandler at [email protected] 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Tami Chandler As VP of Underwriting, Tami leads the largest team at Lucro. She and her staff are responsible for underwriting more than $2.5 billion a year in small business loans! … Web: https://www.lucro.org Details This is placeholder text