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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
16 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
17 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
18 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
18 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
19 hours ago