The $1.9 billion Affinity Federal Credit Union has hired another banking executive to keep up with the demand its commercial lending division is experiencing.
Kathleen Petrelli is the new vice president of lending at the Basking Ridge, N.J.-based credit union. She will help to expand Affinity's commercial lending division as well as consumer lending and Affinity Business Solutions. With more than 20 years of management experience in corporate finance, project finance, commercial lending, commercial workout and trade credit, Petrelli previously worked at CoreStates Bank NA (now Wells Fargo) and PNC Bank.
Petrelli's hire comes in time for Affinity's ramping-up of its commercial lending division to accommodate the state's small and medium businesses, who in recent months have seen their borrowing capacity reduced by other lenders, according to the credit union.
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