HAGATNA, Guam -- The Small Business Administration recently named Community First Guam Federal Credit Union as the first credit union on this United States territory here to participate in the agency's loan programs.
The $48 million credit union, which is regulated by NCUA, can now offer SBA's 7(a) loans among others. The new offering will help CFGFCU connect more with many of its lifetime members, some of whom have their own businesses, said Gerard Cruz, president/CEO.
Chartered in 1962 to initially serve the Navy, Marines, Coast Guard and civil service community, the credit union has nearly 7,500 members. In September 1997, the CFGFCU amended its charter to community status and now serves the island community of Guam.