Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Federally insured CUs offered Ohio biz credit program
COLUMBUS, Ohio (9/17/12)--Federally insured credit unions in Ohio now are eligible to participate in the State Small Business Credit Initiative's (SSBCI) $35 million Collateral Enhancement Program.

The program is expected to generate more than $285 million in private lending and give credit unions a guarantee of up to 30% to 50% of the loan as a collateral shortfall, said the Ohio Credit Union League (eLumination Newsletter Sept. 5).

The Ohio Department of Development's (DOD) Natalie Burley, manager of business assistance, presented a program overview during a meeting last week at the league. Nearly 20 credit union officials from across the state, a representative of the U.S. Department of the Treasury, and league staff attended.

Although Ohio credit unions are not eligible to accept public funds, they are permitted to participate in the program because of modifications made by the state DOD.

The league is working with DOD to conduct additional training sessions statewide about the Collateral Enhancement Program.


RSS print
News Now LiveWire
FHFA today announced it's extending comment deadline for guarantee fees Fannie, Freddie charge lenders to Sept. 8.
12 hours ago
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
15 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
16 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
16 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
16 hours ago