Regulatory Thumbs-Up for Transforms Multi-Featured Lending Forms Solution

(Baltimore, MD)  — August 1, 2012 – in a joint release, Transamerica and Conmarsystems announced that a letter issued by the National Credit Union Administration (NCUA) in July validates their Transforms Document SolutionsSM, a multi-featured lending forms solution for credit unions (Transforms). The NCUA letter supports that a blended approach for multi-featured lending under a master plan with proper Truth-in-Lending disclosures is compliant both in the spirit and letter of Regulation Z.

The NCUA letter states, “In response to Regulation Z amendments, some federal credit unions have utilized a blended approach that uses an umbrella loan agreement for a member’s open-end lines of credit and closed-end loans. Use of a blended approach that combines both open-end and closed-end sub-accounts (e.g., a vehicle loan) is consistent with Regulation Z.”  (See accompanying NCUA letter, pages 5 and 6 for full opinion.) (

“The benefit of a multi-featured lending forms solution is to be consistent with a credit union culture of not making members start from square one for each and every loan,” says Mark Staley, President of Conmarsystems.  “The forms are not ’open-end’ in the traditional sense. Instead,  the simplified forms include a master loan agreement that defines the covenants between the borrower and the credit union as well as includes a disbursement voucher – for both ’replenishing’ and ’non-replenishing’ loans.” The NCUA letter indicates this is a permissible blended approach to a multi-featured lending plan.

With the Transforms solution, credit unions establish a master lending plan and thereafter, with appropriate Truth in Lending disclosures for non-replenishing advances under the plan, underwrite at the time of the advance WITHOUT new signatures on new loan documents at the time of the advance. Mr. Staley continues, “In the beginning, the Transforms lending solution forms package presented new concepts for many in the industry. Some were more willing to embrace them than others. The NCUA letter confirms the validity of the Transforms program.” This innovative program   has been available and implemented in the marketplace since early 2011.

“We have implemented this concept for the last 14 months in credit unions across the country. Credit unions can be confident with our track record,” said Tom Kazar, Vice President of Sales, Transamerica.

Transforms is an integrated solution that partners the Conmarsystems’ forms with Transamerica’s financial services products, giving credit unions the opportunity to increase revenue while taking advantage of the lending forms solution. Credit Insurance and Debt Cancellation products are available for cross-sell within Transforms. Generally, a credit union can be up and running within 60 days. Beyond that, Transamerica can also provide turn-key support and training.

For more information on Transforms Document SolutionsSM and Transamerica products in the Credit Union space, contact Tom Kazar, Vice President of Sales,

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About Transamerica

The Transamerica companies offer a wide array of innovative financial services and products with a common purpose:  to help individuals, families, and businesses build, protect and preserve their hard-earned assets.  With more than a century of experience, we have built a respected reputation on solid management, sound decisions and consumer confidence.

Transamerica’s Financial Solutions unit provides programs tailored to the needs of financial institutions such as, credit unions, community banks, and larger financial institutions. We offer specific programs for credit insurance and debt cancellation products that include marketing strategy, training, marketing support, and related services.

About Conmarsystems, Inc.

In 1978, Conmarsystems was formed as a business forms distributorship for the purpose of providing printed form solutions to credit unions. Today they are recognized as a national provider of streamlined, compliant lending forms with products and services that are uniquely tailored to the needs of credit unions. Conmarsystems is based in Atlanta, GA and currently has over 1,000 Financial Institution clients.

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