Through a unique partnership, Del-One Federal Credit Union was able to provide $1.2 million for school buses this summer.
The $309 million credit union in Dover, Del., said the borrowers were small businesses and individuals.
The state of Delaware awarded contracts to the drivers and Del-One provided the financing for 10 loans, according to the credit union.
“Delaware state employees have long been the core membership group of Del-One. Thus, offering a loan product that ties into state government and school districts is a natural fit,” said Dion Williams, president/CEO of Del-One.
Garrett Johnson was among the members who received financing for a school bus.
“I appreciate Del-One making this opportunity possible for me,” Johnson said.
Williams said the school bus loan program is another example of how credit unions are supporting the local economy.
“[It’s] why Washington needs to look past the politics and grant member business lending relief to credit unions,” Williams said.