At the start of 2012, Day Air Credit Union said it set a goal to fund and grow the community by $100 million in loans.
The Kettering, Ohio-based cooperative is celebrating not just meeting that goal but exceeding it.
Day Air said it provided more than $105 million in loans last year. That’s 3,590 new vehicles, 548 new homes, 185 small businesses growing and 417 students going to college, according to the $268 million credit union.
“Being a financial cooperative, we are built around meeting the needs of our members and community, not maximizing profit.” said William Burke, president/CEO of Day Air. “We live by the philosophy of people helping people and are here to serve the community. We look forward to a successful 2013 for all of our members and members yet to be.”
When the economy took a dip in 2008, many banks pulled back on lending if not stopping altogether, the credit union said. Day Air said it wanted to fill a need in the community by helping its members buy their first home, fund their children’s braces, get a new fuel efficient car or buy an engagement ring.
Serving nine counties, the credit union said it has millions to lend and is ready to help grow its local economy even more in 2013.