Community One FCU Now Ranked among Nevada's Top SBA Lenders

LAS VEGAS – An ambitious business lending program has earned Community One FCU a spot among Nevada’s top SBA lenders. According to the Nevada SBA’s District Office, the $174 million CU amassed 16 loans totaling $3.2 million as of fiscal year Sept. 30, 2005. Since the beginning of the 2006 fiscal year, which began Oct. 1, the CU has garnered three more loans totaling $338,000. The Nevada SBA said it’s office issued a total of 883 loans totaling $256 million last year, up 9% from the previous year. The increase in total loan dollars was a 27% jump from the previous year, according to the office. “We are very proud to be recognized in this category. In the past year and a half, we have seen businesses of all sizes become familiar with the flexibility and benefits of credit union membership and the loans we provide,” said J. Alan Pughes, president/CEO of Community One. As part of Community One’s efforts to provide businesses with the same services previously available only to individual members, the CU has focused on credit services such as lines of credit; commercial/industrial purchase and refinance loans; letters of credit; SBA loans; term loans; mortgages; and investment services through MEMBERS Financial Services. According to the SBA’s statistics, Nevada has an inviting small-business environment with “supportive tax and regulatory policies in place, and a growing demand for goods and services required by new residents and other businesses.” In related news, Community One recently appointed Kris Shank vice president of lending. He will be responsible for the development of commercial business and will oversee the continued improvement of all consumer loan products for both individuals and businesses. Shank previously served as a commercial loan officer with Genoa, Ohio-based First Federal Bank and vice president and chief lending officer at Genoa Savings and Loan, also in Genoa.