X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Before Henry Wirz, president/CEO of the $2.1 billion SAFE Credit Union in Folsom, Calif., launched the credit union’s member business lending operation 15 years ago, he discovered about 3,000 members were small business owners already using the cooperative’s financial products to operate their firms.

“What we quickly realized was that we don’t have any Fortune 500 employers, so this community really depends on how well small businesses do,” Wirz recalled. “They are the engine of growth. We realized a key function of any community organization was to support small businesses.

Has your credit union considered participating in SBA 7(a) loan program?
Yes. The SBA has already authorized us. No. The rules were too restrictive. No. We have not decided to offer MBLs. No. We don’t know enough about them. Other Please Specify:

Poll Maker

 

Today, the NCUA and SBA are promoting the same message through a new initiative announced earlier this year to encourage more credit unions to offer small business loans. 

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Peter Strozniak

Dig Deeper

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.