For its lending efforts, the $3 billion Randolph-Brooks Federal Credit Union has been named the Small Business Administration's top 7(a) program lender in the country in the small lending category.
The Live Oak, Texas-based credit union began offering SBA loans in 2006. In 2008, RBFCU made more than 200 SBA loans, according to the agency. In all, RBFCU has 372 SBA loans totaling $17.2 million, the credit union said.
While the SBA does not have a credit union lender of the year award, RBFCU was scheduled to be the only credit union honored at last week's National Small Business Week's recognition activities, said Carol Chastang, a SBA spokeswoman.
The SBA said it is recognizing financial institutions "for a combination of factors, most saliently financial assistance provided, whether in the form of loans, investments, surety bonds, and their continued commitment to and support for small business during a time of economic upheaval and credit shortages."
Kenan Pankau, business services lending manager at RBFCU, was scheduled to accept the award during an SBA ceremony.
The SBA named Compass Bank in Birmingham, Ala. as its top 7(a) program lender in the large lender category.

PSCU Financial Develops
Small Biz White Papers

PSCU Financial Services has created a series of white papers to help credit unions decide on whether to serve the small business market.
The first paper, "The Small Business Opportunity," describes small business owners as "super consumers" who seek multiple services for their personal and business finances, including credit and debit cards, online bill payment, checking, savings, 401(k) retirement plans and others. It is available at http://www.pscufs.com/press_room/white_papers_research.htm.
PSCU Financial said the next paper will help credit unions create a customized program for small businesses that manages risk and includes measurement tools. The white papers are free and will be available on the CUSO's Web site (www.pscufs.com).
"Given the current instability among larger financial institutions, credit unions represent a safe harbor for small businesses and a compelling alternative to traditional banks," said David Serlo, president, PSCU Financial. "Owners also tend to be very loyal to the primary financial institution that helped them grow their business."