The $1.9 billion NEFCU said it can now expedite business loansand lines of credit to help those recovering from the devastationof Hurricane Sandy.
|The Westbury, N.Y.-based cooperative said it recently receivedNCUA approval to become a small business loan expeditor.
- SANDY NEWS: Nov. 14, 2012 MCU Antes Up $25,000 for Relief
- SANDY NEWS: Nov. 14, 2012 CUAid Passes $175,000 Mark
The designation allows NEFCU to streamline the loan applicationand underwriting process with the singular goal of making businessloans and lines of credit as readily available to members aspossible, according to the Long Island credit union.
|“We know that Hurricane Sandy brought significant losses to manyof our members, neighbors and communities. NEFCU is pleased to beable to honor our longstanding tradition of providing real value toour membership, further supported by this NCUA designation,” saidEdward Paternostro, president/CEO of NEFCU.
|After Hurricane Sandy hit, the credit union rolled several forms ofrelief to assist impacted members including loan deferrals anddiscounts on auto loans.
|NEFCU serves nearly 150,000 members.
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