The $1.5 billion GECU in El Paso, Texas said it has seen such robust business services growth that it has moved that department to a bigger facility.
Launched in 2004, the GECU business services department offers several credit options such as term loans, commercial real estate, interim construction, lines of credit and SBA loans. The department is now located at the GECU Operations Center.
"We introduced our business services department six years ago because we saw that the business community was, in many respects, underserved," said Harriet May, CEO/president of GECU. "We quickly outgrew our old location and are thrilled to be in the operations center so we can better serve local businesses and assist them in achieving their goals."
According to NCUA call report data, as of December 2009, GECU had $108.6 million in member business loans and $1.55 million in SBA loans.