MERRIFIELD, Va. — Several Virginia credit unions were recently profiled on the strides their business lending programs have made with members.
In a June 8 article, the Virginian Pilot talked about the increase in member business loans among credit unions over the past three years despite the loans accounting for less than 5% of all credit union lending.
The $29 billion Navy Federal Credit Union's new program had 215 business loans on the books at the end of March, an 18% increase from the previous year, the publication reported. The dollar volume of the business loans totaled $19.33 million, a 12% increase from March 2006.
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