Updated Friday, April 9, 2021
COVID-19 Relief and Additional PPP Funding
Compliance Systems developed an expedited SBA PPP solution. We are closely monitoring developments and analyzing any potential changes that may be required to the documents. We have our static forms are available to clients in our Community Lounge. For more information about our SBA PPP solution, please visit the Community Lounge and check out the COVID-19 and SBA PPP Knowledge Exchange forum under Product and Industry Updates.
Updated Wednesday, April 22, 2020
Compliance Systems is providing an expedited SBA PPP solution that pairs with participating Loan Origination Solution (LOS) providers to help financial institutions provide SBA PPP loans to their customers or members through June 30, 2020 (current program end date).
Please visit our COVID-19 and SBA PPP Knowledge Exchange forum on our Community Lounge for FAQs and next-step information. We continue to update the forum with information regarding participating LOS partners.
PPP At a Glance
Updated Tuesday, April 7, 2020
SBA PPP Institution Enrollment
If your institution wants to provide SBA loans for the Paycheck Protection Program (PPP) and you are not currently SBA certified, you need to enroll in the program by submitting Form 3506 to DelegatedAuthority@sba.gov. A link to the form is below.
Updated Monday, March 31, 2020
Compliance Systems continues to stay informed about developments surrounding the coronavirus (COVID-19). We have a team dedicated to daily monitoring and assessment of the situation to determine our best strategies as an organization and how we can serve you during this unpredictable period.
In this unprecedented time, we want you to have the tools in hand to be as flexible as possible to continue generating new business and serving your existing customers.
If you use Simplicity Runtime as part of your Compliance Systems solution:
- You can use Runtime Deal Maker for no cost for 90 days to unlock your transaction documentation for modification. We know that you need to be flexible in order to work with your customers to close deals. Runtime Deal Maker lets you do that. For information, please contact firstname.lastname@example.org or call 800-968-8522. Our Deal Maker offer is described in the press release available here.
- You can perform loan modifications as necessary to commercial lines of credit to adjust terms for your customers. You can find procedural information in your platform Job Aids sub-forum on the Community Lounge.
- You can launch Runtime directly from Simplicity Configuration in the event that you cannot launch it from your platform system. You can find procedural information in the Simplicity Runtime News & Updates forum on the Community Lounge.
Note that Simplicity Runtime may not be part of your platform’s integration with Compliance Systems.
Our Product team has collected information about the potential impact of COVID-19 on consumer lending. The team has also put together information on the extension of the federal income tax filing deadline. You can find both posts in the Regulatory & Industry Updates forum on the Community Lounge.
We have created a COVID-19 Business Knowledge Exchange forum on the Community Lounge. This moderated forum is for all clients who are looking for business information related to COVID-19 developments affecting our industry. Please join the conversation.
We will continue to keep you informed as we determine how we can serve you best. For the most up-to-date information regarding COVID-19 and industry developments, please refer to the Regulatory & Industry Updates forum on the Community Lounge.
You can find updates about our business resiliency plans by visiting the CUNA Mutual website.
Thank you for your continued partnership and trust.
Updated Tuesday, March 17, 2020
Compliance Systems continues to monitor developments surrounding the coronavirus (COVID19). This includes monitoring information from the Centers for Disease Control and the World Health Organization as well as state and local health agencies to ensure our business decisions keep our customers, employees, partners, and communities healthy and safe. As a result, we are currently taking the following actions.
• Employees and contractors are encouraged to work from home.
• Our office buildings will remain open for those individuals who may need to periodically come to the office to complete work processes.
• For visitors who were planning to come to our office, we have made alternate arrangements to postpone meetings or conduct them virtually. Our goal is to limit non-essential visits to our offices.
• All business travel through April 17 is canceled in favor of phone or virtual meetings.
Compliance Systems and our parent organization, CUNA Mutual Group, remain financially strong and our teams remain committed to serving your needs. The CUNA Mutual Group business resiliency plans are available for your review and are designed to ensure we continue delivering exceptional customer experiences even as precautions are taken to limit exposure to illness through temporary changes to travel, meetings and events, and remote work. As needed, our policies around travel, meetings and events and remote work may continue to change. You can find updates about our business resiliency plans through the link above or by visiting the CUNA Mutual website.
Thank you for your continued partnership and trust.