LAS VEGAS – An ambitious business lending program has earned Community One FCU a spot among Nevada’s top SBA lenders. According to the Nevada SBA’s District Office, the $174 million CU amassed 16 loans totaling $3.2 million as of fiscal year Sept. 30, 2005. Since the beginning of the 2006 fiscal year, which began Oct. 1, the CU has garnered three more loans totaling $338,000. The Nevada SBA said it’s office issued a total of 883 loans totaling $256 million last year, up 9% from the previous year. The increase in total loan dollars was a 27% jump from the previous year, according to the office. “We are very proud to be recognized in this category. In the past year and a half, we have seen businesses of all sizes become familiar with the flexibility and benefits of credit union membership and the loans we provide,” said J. Alan Pughes, president/CEO of Community One. As part of Community One’s efforts to provide businesses with the same services previously available only to individual members, the CU has focused on credit services such as lines of credit; commercial/industrial purchase and refinance loans; letters of credit; SBA loans; term loans; mortgages; and investment services through MEMBERS Financial Services. According to the SBA’s statistics, Nevada has an inviting small-business environment with “supportive tax and regulatory policies in place, and a growing demand for goods and services required by new residents and other businesses.” In related news, Community One recently appointed Kris Shank vice president of lending. He will be responsible for the development of commercial business and will oversee the continued improvement of all consumer loan products for both individuals and businesses. Shank previously served as a commercial loan officer with Genoa, Ohio-based First Federal Bank and vice president and chief lending officer at Genoa Savings and Loan, also in Genoa.

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

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

  • Critical 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 and

Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


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 and

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

Copyright © 2024 ALM Global, LLC. All Rights Reserved.