Jacksonville, Fla. local business district. (Source: Shutterstock)
Citing data compiled by the U.S. Treasury Department, a Jacksonville, Fla.-based credit union said it had obtained more loans than any other credit union in Florida under the federal government's program for propping up businesses struggling amid the coronavirus outbreak.
VyStar Credit Union said it had originated 4,431 loans totaling nearly $147 million under the Paycheck Protection Program, under which small businesses could seek government-backed loans to retain workers and pay bills. The credit union said it was among more than 900 financial institutions that participated in the program in Florida, helping save more than one million jobs, based on a review of data released by the Treasury Department's Small Business Administration.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
C. Ryan Barber
C. Ryan Barber, based in Washington, covers government affairs and regulatory compliance. Contact him at [email protected]. On Twitter: @cryanbarber
