The Rundown
|- Things have changed in the past decade–Generations FCU had begun lending to small business borrowers.
- But none of the existing business loan products really fit the members' needs for both a mortgage loan and a business loan.
- In conducting research to find a solution, the lending officers discovered the SBA's 504/CDC loan program.
For San Antonio, Texas-based Generations Federal Credit Union, helping out members has meant making the sorts of loans it had never made before or had even contemplated making.
The occasion to break new ground in lending came when two longtime Generations members, Al and Ramona Diego, were looking for a financial institution that would help them finance the expansion of their small business into the San Antonia area.
The Diegos had been members since the credit union was called San Antonio City Employees Federal Credit Union, and Al had been eligible for membership through his career as a San Antonio police officer. He's now retired.
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