Pittsburgh CU 'Swamped,' Doubles Loans Amid State Budget Crisis
A small Pittsburgh credit union, ACBA Fed, whose staff includes current and retired state employees, went to bat this week for its hard-pressed members in a big way.
By Jim Rubenstein |
Updated on July 26, 2009
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A small Pittsburgh credit union, ACBA Fed, whose staff includes current and retired state employees, went to bat this week for its hard-pressed members in a big way, more than doubling its loan volume with no credit checks as the state budget crisis drags on for a second week.
“We are here to support our members and we feel this is the right thing to do,” said Mark McCormick, the CEO of the $4 million CU, which has already issued 698 new loans, more than half of the 1,000 the CU typically extends in a year to its 800 members. “We’re simply swamped.”
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