Current News

Ken Gibbons, Chairman and Chief Executive Officer of Union Bank is pleased to announce that Union Bank has received an Unconditional Direct Endorsement Approval from the US Department of Housing and Urban Development (HUD). With this endorsement, Union Bank is able to locally approve FHA loans originated from any of its locations in Vermont and New Hampshire without needing prior HUD approval resulting in a faster closing process for the customer.
The purpose of these loans is to provide a low down payment option for home buyers. These government backed loans qualify for down payments that can be as low as 3.5% in both Vermont and New Hampshire. This is a big advantage when typical mortgages require 20% of the purchase price up front. FHA loans provide further advantages in that they have no geographic or income restrictions.

Maine Governor Paul LePage today signed into law historic legislation changing the way telecommunications providers are regulated in Maine, which should help FairPoint compete against lesser-regulated or unregulated providers.
â This bill is an excellent example of what our administration promised to do,’said LePage. â This legislation reduces red tape and regulation, and puts all telecommunication providers under the same set of rules.’ LePage said the legislation modernizes regulation, while continuing to provide the necessary protections to Maine consumers.
The legislation, sponsored by Rep. Stacey Fitts, R-Pittsfield, moves the regulatory requirements of all telecommunications providers closer to parity. The new regulations will continue to protect the public interests and do not increase regulation on any one sector of the industry.

A new bedrock geologic map of the state was unveiled in a ceremony at the Vermont State House Wednesday, bringing a critical tool to land managers involved in natural resource planning and environmental assessment.
View Map Here
The event, hosted by Gov. Peter Shumlin, included the Secretary of the Agency of Natural Resources Deb Markowitz; Peter Lyttle of the U.S. Geological Survey; Laurence Becker, Vermont Agency of Natural Resources; and Char Mehrtens of the University of Vermont. These three organizations were the main collaborators to produce this updated, highly detailed map. The stateâ s last map of this kind was produced in 1961, with the first geologic map of the state being produced 150 years ago.

Many older outdoor wood-fired boilers (OWBs) that are not certified to meet Vermontâ s emissions standards are required by law to be permanently retired by the end of 2012. Specifically, uncertified OWBs that are located within 200 feet of a residence, school or healthcare facility, not served by the OWB, must be removed and destroyed by December 31, 2012 (See 10 V.S.A. §584(g)).
To assist Vermonterâ s with complying with the new law, the Vermont Air Pollution Control Division (APCD) is offering a voluntary OWB Change-out Program that provides financial incentives to encourage the replacement of old OWBs with cleaner, more efficient heating units.

byChuck Ross and David MearsWe would like to congratulate VEC (www.vecgreen.com) for hosting their annual conference this year entitled â Charting a Path to Successful Farms and Clean Water in Vermont’at Middlebury College. They brought together an interesting array of panelists who were able to put the water quality challenges facing agriculture into context over time and within the broader framework of our state.
The conference succeeded in creating a space where people from many perspectives were able to listen, learn, and attain a better understanding of this challenging and complex subject. Most importantly, attendees began to develop a vision of where and how Vermonters can collectively address this challenge going forward.

Every quarter, New England Federal Credit Union (NEFCU) selects four recipients at random to receive $625 each, for a total of $10,000 annually. Recently, NEFCU announced its community giving donations for the first quarter of 2012:

Northeast Disabled Athletic Association will use the funds to benefit the Vermont Chargers Power Soccer club.

Vermont Youth Conservation Corp will use the donation to benefit the High School Leadership program.

Lucyâ s House for the Prevention of Homeless Pets will use NEFCUâ s donation to help provide free pet food, supplies, and veterinary assistance to pet-owning families experiencing financial hardships.

Women Helping Battered Women will use their funds to benefit the 5thAnnual Run for Empowerment event.

New England Federal Credit Union. 4.11.2012.

byArmando VilasecaEvery session our Legislature considers hundreds of bills, all of which aim to enhance our current status. This year legislators have an incredible opportunity to fundamentally improve the lives of thousands of Vermont students, and make a concrete investment in the future of our state. House Bill H.776 and Senate Bill S.233 expand the existing relationship between our public high schools and colleges to allow more students to take college-level courses while enrolled in high school, earning both secondary and postsecondary credits.
Less than half of Vermontâ s high school graduates continue their education beyond high school. As the stateâ s population has grown stagnant and our student enrollment has dropped, it is important that we provide opportunities to keep our young people here and thriving in Vermont.

by Alan Panebaker vtdigger.orgThe big guns in the Vermont utility world converged on the Statehouse Tuesday to warn lawmakers against passing legislation that would direct the state Public Service Board to a specific course of action.
In testimony before House committees on Natural Resources and Energy and Commerce and Economic Development, utility CEOs, business representatives and a former chair of the board all cautioned against proposals that would, in effect, tell the board or the Department of Public Service to ensure ratepayers get $21 million in a cash or refund. The Legislature has yet to consider as a body any of the proposals.

Secretary of State Jim Condoshas announced a new online resource at www.BusinessIDTheft.org designed to serve as a critical resource to help business owners understand and protect themselves from business identity theft.
The Identity Theft Protection Association (ITPA) created and launched the website with input from the National Association of Secretaries of State (NASS), which convened a national business identity theft task force in October 2011.
â As a member of this important task force, I have been at the forefront of the business identity theft issue at a national level, and recognized the need to raise awareness with Vermontâ s business community about this sensitive and little understood topic. ‘stated Secretary Condos.

According to Genworth's 2012 Cost of Care Survey, the cost to receive care in the home through home health aide services inVermonthas declined over the past five years.
"Overwhelmingly, Americans prefer to receive long term care in the home and the relatively muted rise in home care costs nationally over the past few years can be viewed as a positive for consumers in Vermont," saidSteve Zabel, senior vice president of Long Term Care at Genworth. "Consumer demand for home care services has led to a proliferation of home care services providers and more choice for consumers. This competition has kept home care costs relatively stable, especially when compared to the cost of care in a nursing home or assisted living facility."

Northern Power Systems (NPS), a company that designs, manufactures and sells wind turbines to the global marketplace from its headquarters in Vermont, will receive the Renewable-Energy Exporter of the Year award from the Export-Import Bank of the United States(Ex-Im Bank). The award will be presented at the Bank's 37th Annual Conference, "Ex-Im â Your Competitive Edge," onApril 12inWashington, DC.
"Northern Power Systems is a great example of an innovative company that is creating American jobs by helping other nations meet their energy needs," saidFred P. Hochberg, chairman and president of the Ex-Im Bank. "Ex-Im's financing for renewable energy projects exceeded$720 millionlast year, and the Bank remains committed to supporting U.S. exports in this vital sector."

The Shumlin administration and the Legislature should specify how $9.6 million in small business tax revenue will be spent even though the program for which it is collected will no longer exist, said the National Federation of Independent Business (NFIB).
â Small businesses opposed vigorously the passage of Catamount Health Plan from the beginning because the numbers didnâ t work,’said Shawn Shouldice, who serves as NFIBâ s Vermont State Director. â Now the program is going under because it is unsustainable just like we predicted but policymakers in Montpelier intend to leave in place the tax on small businesses.â
Catamount Health Plan provides a rich set of health care benefits for certain Vermont citizens and is financed in part with a tax on employers ‘the Employer Assessment, which raises over nine million dollars.