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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.

Peter Westerman

Credit Union Times

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