For its Small Business Administration lending efforts, Langley Federal Credit Union said it was recently named the top credit union in loan production for its district.
Virginia credit union does $1.35 million SBA loan volume for fiscal year ended Sept. 30.
Waived fee initiative effective Jan. 1 and will run through Sept. 30, 2014.
Industry experts say due diligence can help credit unions avoid losses like those suffered by the $620 million Alabama One Credit Union in Tuscaloosa, Ala., and the Small Business Administration, which were defrauded of more than $3 million by a businessman.
Losses like the $3 million case involving the SBA and Alabama One can be avoided, experts say.
The Credit Union Association of New York announced the promotion of three employees.
From East and West, Midwest and South, credit union people in the news.
Analysis shows Republican-leaning states particularly affected in areas of home purchasing and student lending.
A Sept. 11, 2013, story in Credit Union Times (Small Business Owners’ Plea to Credit Unions: Earn My Business) reported on a focus group of small business owners, who generally concluded that credit unions are having a hard time serving their needs compared to banks.
Thirteen counties in three states affected by drought this year included in SBA eligibility.