RALEIGH, N.C. — Just six months after LGFCU Financial PartnersLLC made its debut, the CUSO said it has approved more than $9million in loans, far exceeding its five-year projection of $2million.

A subsidiary of Local Government Federal Credit Union, LGFCUFinancial Partners launched in April to offer commercial loans toNorth Carolina's cities and counties. Since then, the CUSO hascemented a presence in 26 of the state's 100 counties.

“It really came a lot quicker than we anticipated,” said DeborahIsenhour, president of LGFCU Financial Partners. “We forecasted wewould have $1 million on the books in the first year and $2 millionby the fifth year. Instead, to date, we have more than $9 millionin loans on the books and expect that to grow to $20 million by theend of the year.”

Despite the weakened state of the economy, communities arealways going to need emergency services, Isenhour noted. The CUSOhas approved more than 40 loans for everything from their largestloan of $1.7 million for four fire trucks to $18,000 for a usedambulance.

The smaller loans are certainly serving a niche. Isenhour saidmore than 60% of their loans are made in less economicallyadvantaged counties.