Credit Union Business Lending in the News

This entry was posted by Friday, 7 May, 2010
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If credit union business lending has been the subject of stories and opinion pieces in your local newspaper – or even in the national papers you read or the local radio stations you listen to – it’s no accident.

It’s the result of a coordinated effort by the Leagues – working with CUNA – to get out the word through local media that credit unions are helping the economy, and want to do more. And pressing the point that they could do more if Congress would allow credit unions greater capacity to make member business loans.

Which would pump $10 billion into the economy and create 108,000 new jobs at no cost to the taxpayer.

News stories and op-eds have appeared from Maine to California. News stories typically feature local business owners singing the praises of their credit unions.

“Community Choice (Credit Union) has been a godsend for us,” Christy Drake told the Des Moines (Iowa) Business Record. Drake, with her husband, owns and operates two small businesses in Greater Des Moines; a bank had recently called their loan. “I never missed a payment, and I was never late; that was the shocker,” she said.

“We have had a very pleasant experience (dealing with the credit union) compared to the similar challenge facing traditional banks,” Mike Cahill told the Arizona Capitol Times. Cahill owns seven Phoenix-area car wash locations.

The Las Vegas Business Press wrote that local business owner Curtis Wells “is the kind of customer community bankers dream of, but he is committed to Boulder Dam Credit Union, which gave him his first loan and all the loans since.”

These items – and more – are on the CUNA website; click on Member Business Lending under CUNA Initiatives.

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