WESTBURY, N.Y. (11/16/12)--The National Credit Union Administration (NCUA) has approved NEFCU's designation as a Small Business Loan Expeditor. NEFCU, which serves all of Long Island, can now expedite business loans and lines of credit to help those recovering from the devastation of Hurricane Sandy.
With $1.9 billion in assets and nearly 150,000 members, NEFCU is headquartered in Westbury, N.Y., and has branches and a shared branch network throughout Nassau and Suffolk Counties.
"We know that Hurricane Sandy brought significant losses to many of our members, neighbors and communities," said Edward P. Paternostro, NEFCU president/CEO. "Being selected as a Small Business Loan Expeditor affords us the opportunity to make funds immediately available for restoration and rebuilding."
The Small Business Loan Expeditor designation allows NEFCU to streamline the loan application and underwriting process with the goal of making business loans and lines of credit as readily available to members as possible. "We appreciate that our business partners may have significant liquidity needs at this time, and we stand ready to support them with our special programs," Paternostro said.
Also, NEFCU was one of the first financial organizations to offer Hurricane Relief programs to consumers. For more information, contact Andrew Saluk at NEFCU at 516-714-2965.