Member business lending will continue to be a priority for CUNAas it welcomes Karen Mills, the Small Business Administration's newadministrator.
|"We look forward to identifying opportunities with the SBA thatwill help credit unions increase member business lending and helpdrive the economic recovery," said CUNA President/CEO Dan Mica."Member business lending is an important endeavor for a number ofcredit unions; working with Administrator Mills to facilitate thoseefforts is a priority for our association."
|Before 2003, credit unions with geographic or community charterswere the only CUs allowed to participate in the SBA's 7(a) program.On Feb. 14, 2003, that restriction was lifted to include all creditunions. Since then, CUNA has kept a dialogue going with the SBA onincreasing industry participation. There are now more than 450credit union SBA lenders.
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