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Iowa CUs participate in state investment program
DES MOINES, Iowa (12/10/07)--Iowa credit unions are getting involved with the State Treasurer’s Small Business Linked Investments for Tomorrow (LIFT) program. The program facilitates the growth of Iowa small businesses by providing low interest loans. Iowa credit unions have partnered with Community Business Lenders, a credit union service organization specializing in member business loans, to offer business loans to Iowans. Through this partnership, credit unions are able to offer business loans to their members, and are working to sign agreements with the state treasurer’s office to take part in the LIFT program. Affinity CU, a $52.1 million asset, Des Moines-based institution, recently funded a LIFT loan for Carole Eckles-Harding to purchase a permanent lighting franchise, ChannelBrite in Polk County. “Using the LIFT program was shockingly easy,” said Eckles-Harding. “They had the whole thing taken care of in just about two hours.” ChannelBrite is unique in that it uses LED lights rather than incandescent lighting. This lighting consumes considerably less energy than incandescent lights and lasts for up to 100,000 hours, or 10 years. “The LIFT program helps Iowa’s small businesses flourish,” said Michael Fitzgerald, state of Iowa treasurer. “We are so happy that Iowa credit unions are participating in the program that will help hundreds of Iowans fulfill their dreams.”
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