the latest

SBA PPP Loan Forgiveness

Union Bank and Trust (UBT) has opened its SBA PPP loan forgiveness application portal as of today - 8 Oct 2020. We have partnered with Holtmeyer & Monson (H&M) one of the largest SBA Service Providers in the country to help with the banks SBA forgiveness applications process. To make this process more efficient for our clients of the SBA PPP program the bank and H&M have developed an online application processing portal. This portal will help the application process, reduce errors and make the whole process more efficient. This email contains the link to submit your application and basic instructions. SBA PPP Loan forgiveness Update. The SBA and the US Treasury have begun to finally start processing and making final decisions on SBA PPP loans as of 2 Oct 2020. Many banks in the US, including UBT, have been waiting to see if Congress was to take any additional action on streamlining the forgiveness process. Congress sadly did not act so the US Treasury and Banks have decided to move ahead with the forgiveness process as currently structured. Process Basics - This is a 3 Step process: Step 1: Borrower submits the application to the bank via thought the banks application portal. https://ubtmn.lenderscooperative.com Step 2: UBT will review the application, ensuring it is complete and recommend to the SBA a forgiveness decision based on the program criteria and submitted application. Step 3: The SBA will review the submitted application and recommended decision from the lender (UBT) and they can either agree with that recommended decision or change the decision. They have up to 90 days to review the application once it is submitted by the bank to the SBA. To begin the SBA Loan Forgiveness Application process have the following information ready. Have your SBA Loan number and EIN number that was on the SBA PPP application ready as you will need this to start the process. Have payroll information, rent/mortgage payment information, utility information and any other documents you will be using for submitting the application. There will be a feature to upload these electronically as part of the application. Have the original number of employees that you used when you applied and the current number of employees. Other Notes If you received an EIDL loan/advance from the SBA please contact your banker at UBT. These loans if still outstanding at the start of the forgiveness process will be deducted from any forgiveness amounts that get approved. Let’s get started (Please use Google Chrome for your web browser - MS Explorer is not supported) Click Here to Start the SBA Forgivness Application SBA PPP Loan Forgiveness Communication Process Once the loan has been reviewed by the bank, a recommendation has been developed on forgiveness and submitted to the SBA we will communicate that to you. Once the SBA has reviewed the application and the banks forgiveness application we will communicate that with you. While the SBA has up to 90 days for this process it is our expectation that this will be done within 30 days based on what we see developing at this time. If you have any additional questions you can always contact the bank and your lender that you worked with at the time of SBA PPP application. We welcome your questions (612) 379-3222.

FRAUD PROTECTION FOR BUSINESS ACCOUNTS

Concerned about fraud? According to 2013 AFP Payments & Fraud Control study, 61% of companies experienced attempted or actual payments fraud. The typical loss due to payment fraud was $20,300. Union Bank & Trust is committed to offering convenient management solutions to our customers. We offer services to ensure that your account is protected against unauthorized presentments. For Checks – Our positive Pay service will match each item presented for payment against a list of items with date, amount and check number provided by you. You will receive notification of items that do not match any of the criteria so you can make an informed pay-no pay decision. For electronic presentments – ACH ALERT triggers a notification when an ACH debit is received for payment against your account enabling you to detect fraudulent entries immediately and return them instantly. You can also populate an “approved list” for authorized vendors so future debits do not trigger a notification. To learn more, contact us today.

HOW TO PROTECT YOUR ONLINE SECURITY

A few tips and tricks to protect your online security: Create strong passwords. One option is take a sentence that represents something in your life and turn it into a password: My anniversary is on September 12 (Maio0912 or MaioS12 or Ma!oS12) This would satisfy an alpha-numeric, and/or special character required password, at the same time creating a strong password that would be easily remembered by only you. Do not use security questions with answers available on social-networking sites (Facebook)-for example, the name of your high school, the name of your dog. Delete any/all unknown emails- do not open an email if you don’t know who it is coming from Avoid using unsecured wireless (Wi-Fi) for any online activity that requires a password including online banking. Ensure that you have an anti-virus software installed on your computer with scheduled updates and scans Do not have passwords stored within close proximity of your computer Change passwords frequently and do not share your password

UNION IS SPOKEN HERE

Born and Living in the Taft-Hartley World. We are Union-founded, Union-owned and Union-Controlled institution--truly unique proposition in today's environment. But, why does this matter? Our firm, like your fund, is dedicated to providing and protecting a dignified and healthful retirement for union members. We never lose sight of that goal—our owners won’t let us! We understand the history of your organization and its struggle to achieve its goals. We participate in your events. We meet your trustees and your members. At the same time, our trust services for institutions are offered via the best technology in the industry. We work with some of the most well-known progressive systems and technology firms for trust accounting, securities trading and all the components that allow us to provide responsive, accurate custody. Our systems are safe. Our providers invest billions every year in data integrity and our internal systems are tested for penetration and other protections on an annual basis. We are constantly adding subsystems that allow us to better serve your needs and the needs of your dynamic investment portfolios. So, with Union Bank & Trust, you get excellence in trust custody services and our understanding and support of the Union Movement is free! Please include us in your next search for competitive, high touch and access custodial services.

PERSONAL SERVICE FOR CUSTODY

Looking for a Custodian Who Knows Your Name? Union Bank is Custodian for Taft-Hartley and other employee benefit plans all over the country. As other custodians have become global behemoths, our private ownership and focus allow us to maintain a level of personal service that has almost disappeared in our industry. Our experienced Administration group will know the key client team members as well as all plan service providers such as consultants, administrators and auditors. We know that we are part of this web of support that keeps plan assets safe and properly stewarded. You can design the level of content and access that works for your plan and choose from a number of statement formats and delivery methods. We also report electronically to your consultant or performance reporting service providing industry-standard integrated services. Finally, we work with your auditors on a timely basis provided attestation to the integrity of the process that allows them to complete their important work. Union Bank & Trust is owned and controlled by employee benefit plan trustees who know and understand our important differences. Please include us in your next search for competitive, high touch and access custodial services.

CORPORATE FIDUCIARY TRUSTEE

Your estate plan can benefit by naming a corporate trustee. Estate plans are constructed today to address uncertainties in the future. The final destination and use for your hard-earned assets and making sure those wishes are fulfilled is the goal. Things can change. Health and the presence of trusted, capable and willing fiduciaries can be uncertain in any family under any and all circumstances. A chartered, regulated trust is a guaranteed solution that, should alternatives not exist at the time, your wishes will be carried out. Naming Union Bank & Trust as your trustee has added advantages. We will be glad to serve almost any size and complexity of trust assets, as long as the additional costs are warranted, in a world where vanilla assets and large securities portfolios are necessary for service at larger institutions. We are small, but we have diverse, unique ownership that ensures we are not the next bank acquisition to make the nightly new. Finally, we work with the team you have selected. Your attorney, your financial advisor and your tax preparer can all remain key members of your family team should you so wish. We will not seek their removal or seek to provide those services in their stead. Please call our Personal Trust Professionals for additional information on our services.

FINANCIAL SERVICES PROFESSIONALS

Have you ever worked hard to build wealth and then lost the relationship to a trust company? All successful investment advisors have had the experience of working for years, maybe decades, faithfully advising an individual or family only to see these assets transferred to a trust institution, sometimes in a distant state. Assisting a family in selecting Union Bank & Trust as the named fiduciary in your estate planning practices allow you to stay involved and maintain the relationship you have built. We work with dozens of high quality investment advisors, selected and trusted by the family, to preserve assets and maintain the solid stewardship that has brought them to this point. Union Bank & Trust can officially appoint you as the advisor to the trust, continuing your role in much the same way as the past. You can manage the portfolio on your systems and the transactions you initiate for the client are executed in the same manner. We do not manage money and do not provide services in competition with you. Please call us and determine if Union Bank & Trust can be of service to your clients, in partnership with you, the professional who helped make it all happen.

FOLLOW US ON SOCIAL MEDIA!

Follow us on social media to keep up with community events, highlights, and free resources to help you financially succeed.

Just Announced – Paycheck Protection Program

eBlasts

Just Announced Paycheck Protection Program Starting this Friday, 3 April 2020 - SBA will begin accepting applications for Paycheck Protection loans. Union Bank and Trust will be submitting applications for the bank's existing clients first that have indicated they...

CORPORATE FIDUCIARY TRUSTEE

personal trust

Your estate plan can benefit by naming a corporate trustee. Estate plans are constructed today to address uncertainties in the future. The final destination and use for your hard-earned assets and making sure those wishes are fulfilled is the goal. Things can change....

FINANCIAL SERVICES PROFESSIONALS

personal trust

Have you ever worked hard to build wealth and then lost the relationship to a trust company? All successful investment advisors have had the experience of working for years, maybe decades, faithfully advising an individual or family only to see these assets...

UNION IS SPOKEN HERE

institutional trust

Born and Living in the Taft-Hartley World. We are Union-founded, Union-owned and Union-Controlled institution--truly unique proposition in today's environment. But, why does this matter? Our firm, like your fund, is dedicated to providing and protecting a dignified...

PERSONAL SERVICE FOR CUSTODY

institutional trust

Looking for a Custodian Who Knows Your Name? Union Bank is Custodian for Taft-Hartley and other employee benefit plans all over the country. As other custodians have become global behemoths, our private ownership and focus allow us to maintain a level of personal...