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Board Member Hyland Highlights Small Business Service Opportunities Available to Credit Unions

April 19, 2007, Alexandria, VA- National Credit Union Administration (NCUA) Board Member Gigi Hyland met with local credit union officials this morning in Cincinnati, Ohio, to share insights, listen and discuss ideas regarding credit union member business lending. The event, held at AurGroup Financial Credit Union, recognized the upcoming National Small Business Week, while highlighting the U.S. Small Business Administration’s (SBA) products and services available to credit unions. Board Member Hyland serves as NCUA’s liaison to the SBA.

“Small businesses create two out of every three new jobs and account for nearly half of America's overall employment,” stated Board Member Hyland.  “Credit unions are poised to fuel this economic growth by expanding products and services available to promising entrepreneurs. Right here in Cincinnati and across America, I am encouraged by the dedication and commitment to small businesses demonstrated throughout the credit union system.”

Joining Board Member Hyland at the meeting were: Paul Mercer, President, Ohio Credit Union League; John Florian, Vice President, Government Affairs, Ohio Credit Union League; Tim Boellner, President/CEO, AurGroup Financial Credit Union; Keith Reed, President/CEO, Cooperative Business Services; Dave Fearing, President, Oak Hill Services Corporation; Doug Fecher, President, CEO, Wright-Patt Credit Union; John Bowen, President/CEO, River Valley Credit Union; Gerald Guy, Kemba Financial Credit Union; Jim Schultheis, Chaco Credit Union; Barry Haller, MidFirst Credit Union; and William Burke, President/CEO, Day Air Credit Union.

Facets of member business lending discussed at the meeting included SBA lending programs, perceived hurdles to participation in such programs, examination issues, and other member business lending opportunities.

“Whether starting or expanding a business, entrepreneurs need access to sufficient capital,” noted Hyland. “Credit unions are ideally suited to meet that need. The SBA offers numerous loan programs to assist small businesses and I encourage credit unions to explore making these products available to their members.”

In September, 2006, Board Member Hyland facilitated a webinar program entitled “SBA 101: All You Ever Wanted to Know About Being an SBA-certified Lender.” The webinar was co-hosted by John Wade, Financial Analyst, with the SBA, and provides information regarding business lending services and programs administered by the SBA. The complete webinar may be viewed by visiting the NCUA website at: http://www.ncua.gov/NCUABoard/BoardMembers/Hyland/Presentations/SBA2006/lobby.html

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions.