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Johnson Notes National Small Business Week

April 18, 2008, Alexandria, Va. – The week of April 21-25, 2008, has been designated by the United States Small Business Administration (SBA) as National Small Business Week. National Credit Union Administration (NCUA) Chairman JoAnn Johnson has issued the following statement:

“I strongly support President Bush for fostering an economic and regulatory framework that gives credit unions the flexibility to provide affordable capital to its member-owners. Small businesses play a crucial role in sustaining our nation’s economic vitality. In fact, they have generated 60 to 80 percent of net new jobs annually over the last decade and they employ about half of all private sector employees.

NCUA promotes a credit union environment that fosters the entrepreneurial spirit for credit union members while maintaining a safe and sound credit union system. One example of this commitment is found in NCUA facilitation of webinar programs with the SBA. These sessions provide information regarding business lending services and programs administered by the SBA, including SBA 7a Guaranteed Loans, which help qualified small businesses obtain financing.

In addition, credit unions themselves have demonstrated a strong commitment to the small business community. Through diverse approaches such as promotion of Individual Development Accounts targeted at small businesses, business development seminars and micro-enterprise lending, credit unions are aiding the creation of community asset building and enhancing the investment environment.

I encourage credit unions to continue providing prudent and responsible member business lending products that help member-owners establish viable businesses, create jobs and sustain local communities.”

For more information about the week and its events please visit http://www.nationalsmallbusinessweek.com/.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 87 million members in all federal credit unions and the vast majority of state-chartered credit unions. NCUA is supported by credit unions, not federal tax dollars.

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