Before Henry Wirz, president/CEO of the $2.1 billion SAFE Credit Union in Folsom, Calif., launched the credit union's member business lending operation 15 years ago, he discovered about 3,000 members were small business owners who already used the cooperative's financial products to operate their firms.
"What we quickly realized was that we don't have any Fortune 500 employers, so this community really depends on how well small businesses do," Wirz recalled. "They are the engine of growth. We realized a key function of any community organization was to support small businesses.
Today, the NCUA and Small Business Administration are promoting the same message through a new initiative announced earlier this year that encourages more credit unions to offer small business loans.
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