Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MECHANICSBURG, Pa. – A new business lending project in Cumberland County here has partnered with Members 1st FCU. The $1 billion CU along with F&M Trust have committed to providing funds to the new lending program. The loans will be available to eligible businesses seeking to finance growth-oriented expansion projects in the agribusiness, manufacturing, industrial, logistics, technology, tourism and applied health-care core industry sectors that were identified by the county’s 2004 Economic Development Performance Management Plan. Eligible businesses must be located in Cumberland County, employ no more than 100 people and be prepared to add new jobs over a three-year period. Loans for up to 40% of a project’s total cost, from $25,000 to $250,000 at a fixed 5% interest rate will be available. The loan program will also provide financing for other applicable small business projects. Members 1st has grown to become one of the fastest growing small business lenders in the region over the past few years, said Mark Ritter, assistant vice president for small business lending. Both financial institutions will hold a joint workshop session with Cumberland County Economic Development leaders to train and organize the next steps in the program’s marketing rollout.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.