Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IHuntsville TimesI More small businesses look to CUs
HUNTSVILLE, Ala. (2/15/10)--More small businesses nationwide are looking to credit unions to obtain business loans, The Huntsville Times said Friday. “Nationwide, credit unions’ small-business loans are up from less than $10 billion at the end of 2003 to more than $35 billion last September, according to the Credit Union National Association’s chief economist in a recent Washington Post story,” wrote author Marian Accardi in the Times. The article noted the efforts of Redstone FCU in Huntsville, Ala., in working with a young local company to secure a loan backed by the Small Business Administration. The business development support company needed a loan to set up a proposal center in its office and to build software applications to support government contractors, the paper said. The average small-business loan for credit unions is $159,000, Patrick La Pine, president/CEO of the League of Southeastern Credit Unions, which represents 322 credit unions in Alabama and Florida, told the paper. “We're not building strip malls or large development,” he said. Tighter credit has left small businesses “starving for capital,” he added. To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
Expanded ATM services at branches attractive to members: @CFIGroup. See #NewsNow Friday
9 hours ago
#FinCEN imposes civil money penalty against NJ's BPI money services co. for #BSA violations http://t.co/WnDzOcxdOZ
12 hours ago
.@ABCULCUs give hat tip to America's #100MM #creditunion milestone http://t.co/q8yo6Lx3LM
12 hours ago
The @CFPB has announced new Credit Union Advisory Council members, as well as other senior leaders, advisory board and council members.
13 hours ago
GDP expanded 4.2% on an annualized basis in 2Q according to Bureau of Economic Analysis
14 hours ago