For the first time in its 60-year history, Randolph-Brooks Federal Credit Union has surpassed the $3 billion lending mark.
The $4.9 billion credit union in Live Oak, Texas attributed the milestone, in large part, to its low rates.
Small business loans, mortgages, auto loans and credit cards have all experienced marked growth, Randolph-Brooks said.
Mark Sekula, executive vice president and chief lending officer at the credit union, said a low rate environment has helped members make necessary purchases without putting a strain on their finances. Borrowing opportunities have also helped South Central Texas’ economy.
In August 2011, Randolph-Brooks celebrated another milestone when it surpassed $1 billon in auto loans for the first time.
The credit union also has an active business lending program and has testified before Congress on small business lending issues.
