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UVA Community CU receives regional SBA award
CHARLOTTESVILLE, Va. (8/4/11)--UVA Community CU, Charlottesville, Va., was recognized for the second year in a row by the U.S. Small Business Administration (SBA), which named it the Top Credit Union in the Richmond District for fiscal year 2010.
Click to view larger image For the second consecutive year, the U.S. Small Business Administration (SBA) recognized UVA Community CU as the Top Credit Union in the Richmond, Va., District. From left, Donald “Scott” Dailey, SBA assistant district director of lender relations; Ronald E. Bew, SBA district director, Richmond office; Michael D. Lyster, UVA Community CU vice president of business lending; Susan Walthall, SBA office of community relations; and Antwuan Griffin, SBA senior advisor, office of field operations. (Photo provided by UVA Community CU)
The award is given to the credit union with the highest loan volume by dollar amount. The Richmond district includes all of Virginia except for the Washington, D.C., metropolitan area. SBA guaranteed loans are an integral part of the credit union’s portfolio of business loans and services. At year-end, the credit union had more $20 million in business loans outstanding and an increase of 69% in business member-owners. “By incorporating SBA loan programs with our portfolio of conventional loans, we gain the flexibility to meet the needs of our business community while maintaining the credit union’s loan quality standards,” said UVA Community CU President/CEO Alison DeTuncq. “We’ve found that business owners like this approach and appreciate the range of services we offer.” The Credit Union National Association (CUNA) and credit unions are pressing Congress to increase credit unions’ MBL cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said.


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