FAMU Credit Union Named Small Business Of the Year

TALLAHASSEE, Fla. – For its 71 years of services to the community, Florida A&M University Federal Credit Union was recently named Small Business of the Year by the school’s Small Business Development Center. The $21 million credit union serves more than 4,700 members and has 11 employees. The micro-lending program for small businesses, he said, has a more than 70% success rate, said Gene Telfair, president/CEO. Its ability to provide access to capital for small businesses was applauded, said Ben Harris, Tallahassee’s minority business administrator. FAMU FCU is Tallahassee’s oldest credit union serving the historically black college and several select employee groups and churches. Community leaders including Mayor John Marks, Leon County Commission Chairman Bill Proctor, and Leon County Schools Superintendent Bill Montford honored the credit union for its impact on the community. The small business committee looked at businesses that were indeed committed to the community, had high sales and productivity, a growing employee base and strong models of economic development, said Robert Nixon, executive director of the FAMU Small Business Development Center. In addition to receiving a plaque, the credit union will attend next year’s National Small Business Week conference in Washington, D.C.