CEBA 3.0 UpdateJune 24, 2020
Following a call with Finance and EDC on the implementation process for CEBA 3.0 the week before last, many credit unions had questions about the new version of the loan program. CCUA has received the answers to your questions, which can be found here.
CCUA participated late Friday afternoon on a call with EDC regarding the delays to CEBA 3.0 implementation. EDC and Finance continue to work very hard to operationalize the latest version of this program for 230+ financial institutions after Minister Morneau announced Thursday that last week’s original launch date was not going to happen.
Right now, it is looking as though the first tranche of financial institutions to deliver CEBA 3.0 (large banks and some credit unions) will be looking at this Friday in terms of timing at the absolute earliest, with the rest of the credit union system to follow soon thereafter next week. However we stress that none of these timelines are firm and are subject to concrete progress occurring with documentation and reporting in the coming days.
EDC has scheduled an additional Q&A call focusing on technical aspects on Thursday this week. If you have not received the details for this call and would like to attend, please contact firstname.lastname@example.org.
Thank you for your patience and cooperation as we work with the government to deliver this key program to our business members. We continue to work closely with Finance and EDC to get you the latest information and answer your questions.