News & Updates
Special Olympics 2009 - 2010 (4.20.2010)
Special Olympics is founded on the belief that people with intellectual disabilities can, with proper instruction and encouragement, learn, enjoy, and benefit from participation in individual and team sports, adapted as necessary to meet the need of those with special mental and physical limitations.
Insurance Trust Holds 47th Annual Meeting (4.16.2010)
The 47th Annual Meeting of Insurance Trust was held on Friday, April 16, 2010, at the Senator Inn in Augusta. Credit union representatives from throughout Maine were given an update on the financial condition of Insurance Trust.
Health Insurance Reform at a Glance (4.2.2010)
The health care reform legislation is good for business, good for jobs, and good for the economy. The legislation lowers health care costs to allow American businesses to focus on what they do best, and includes other provisions to directly create jobs and get our nation’s economy moving again.
Health reform stands on the principle of shared responsibility among individuals, employers, and the government. The bill assists employers in providing coverage to their employees and provides access to markets that operate more transparently and fairly.
Health Insurance Reform at a Glance (4.2.2010)
Implementation Timeline
Pets Improve Human Health and Wellness (10.29.2009)
As pet owners consider the health of their pets, they might think of it in the context of their own health. Research shows that humans with a puppy, kitten, dog or cat in their home enjoy a measurable improvement in health and, in fact, spend less on their own health care.
Compliance: Credit Card Act (8.12.2009)
Complying with Provisions of the Credit Card Act, Effective August 20, 2009, as the Act Applies to Open End Lending
The impact of the Credit Card Act’s 21-day advance periodic statement notice on ALL open end lending plans presents extremely significant and burdensome compliance challenges for credit unions. The Act requires major changes in processes and programs that have worked successfully in credit unions for 25 plus years. It requires credit unions to ensure that periodic statements are mailed or delivered to members at least 21 days prior to the minimum payment due dates in order to assess late fees. For any shorter period, the credit union may not treat the payment as late or impose any consequence for delinquency, such as reporting the payment as late to credit reporting agencies while the credit union is not compliant.
Compliance: Closed End Home Equity Loans (8.11.2009)
Regulation Z 226.19(a)(4) --- initiated by The Housing and Economic Recovery Act of 2008
Beginning July 30, 2009 lenders will be required to provide a Truth-in-Lending disclosure for ALL closed-end loans secured by the borrower’s residence within three (3) business days after application and before requiring any fee, except a reasonable fee for determining credit history.
Insurance Trust Now Offers Performance Automotive Key Replacement Program (8.4.2009)
Insurance Trust is pleased to announce the newest product added to its growing line of ancillary products. The Performance Automotive Key Replacement Program takes the stress out of losing or damaging those expensive car keys. Today, the average cost of replacing an automotive key and remote is $245. With the new Key Replacement Program, you are assured a worry-free and hassle-free replacement procedure.
Insurance Trust Partners with OptionSoft Technologies, Inc. (7.22.2009)
Insurance Trust is proud to announce its partnership with OptionSoft Technologies Inc. in an effort to keep Insurance Trust's participating credit unions always leading the lending industry pack. Insurance Trust has partnered with OptionSoft to create a sales tool unique to the credit union community . This new sales tool can be customized for individual credit unions. Not only will it help increase non-interest lending revenue, it will also streamline the loan origination process and help everyone be more compliant in the process.
Health Savings Account (HSA) Road Rules for 2009 (1.15.2009)
HSA Road Rules is a wonderful resource for employers and employees. The 2009 version includes the most recent high deductible health plan specifications, contribution maximums, and qualified expense listings.
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