SAN ANTONIO – The $3.4 billion Security Service Federal Credit Union, headquartered in San Antonio, will start offering small business credit and debit cards through a card services program offered by the Southwest Business Corporation. The credit lines that SSFCU will offer small business members will count against the credit union's business lending cap, according to John Worthington, vice president with the credit union. But Worthington added that the credit union's size made it unlikely to bump up against the cap any time soon. Worthington said the credit union had decided to go ahead and start the program after members had expressed interest in it and after NCUA appeared to promote credit unions offering more business loans. "This was really the next step after we became qualified to offer SBA [the Federal Small Business Administration] loans," Worthington said. SSFCU issues MasterCard, Worthington added. MasterCard has also begun to heavily promote its credit and debit cards for small business owners.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.