RALEIGH, N.C. — Just six months after LGFCU Financial Partners LLC made its debut, the CUSO said it has approved more than $9 million in loans, far exceeding its five-year projection of $2 million.

A subsidiary of Local Government Federal Credit Union, LGFCU Financial Partners launched in April to offer commercial loans to North Carolina's cities and counties. Since then, the CUSO has cemented a presence in 26 of the state's 100 counties.

“It really came a lot quicker than we anticipated,” said Deborah Isenhour, president of LGFCU Financial Partners. “We forecasted we would have $1 million on the books in the first year and $2 million by the fifth year. Instead, to date, we have more than $9 million in loans on the books and expect that to grow to $20 million by the end of the year.”

Despite the weakened state of the economy, communities are always going to need emergency services, Isenhour noted. The CUSO has approved more than 40 loans for everything from their largest loan of $1.7 million for four fire trucks to $18,000 for a used ambulance.

The smaller loans are certainly serving a niche. Isenhour said more than 60% of their loans are made in less economically advantaged counties.