Newsroom
NAFCU brings to light CUs' small biz support
In honor of National Small Business Week, NAFCU Vice President of Legislative Affairs Brad Thaler outlined in a letter to Capitol Hill yesterday the vital services and resources credit unions offer their member small businesses.
"Nationwide, many small business owners are members of credit unions and rely on their services to help make their businesses a success. This includes offering resources for underserved borrowers, providing financial relief for small businesses affected by the lapse of government funding earlier this year, or developing financial literacy programs for entrepreneurs exploring their financial options," Thaler wrote to House and Senate leadership.
Thaler also pointed to a 2011 study commissioned by the SBA's Office of Advocacy that found during the 2007-2010 financial crisis, banks decreased their small business lending, while credit unions increased business lending as a percentage of assets.
Earlier this week, NAFCU President and CEO Dan Berger highlighted credit unions' engagement with small businesses, reinforcing the important role credit unions play – not just this week, but every week – for small businesses in America.
"Credit unions are committed to serving and strengthening their communities, and one of the ways they do so is through providing small businesses with necessary capital that stimulates economic growth," said Berger. "NAFCU looks forward to continuing our partnership with the SBA to find opportunities for credit unions to better serve small businesses through lending."
NAFCU has worked closely with the Small Business Administration (SBA) to improve access to credit union small-dollar loans to small business and in 2016 and 2017 signed Memorandums of Understanding (MOU) with former SBA Administrators Maria Contreras-Sweet and Linda McMahon.
National Small Business Week runs through Saturday.
Share This
Related Resources
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Add to Calendar 2024-04-11 14:00:00 2024-04-11 14:00:00 Regulation E: Impacts Across Your Institution Dive into regulatory excellence with, Regulation E: Impacts Across Your Institution. This webinar is tailored to empower you with the knowledge and strategies necessary to effectively implement the Electronic Funds Transfer Act (EFTA) and Regulation E within your operations. You’ll explore how to apply Regulation E across various business areas to ensure compliance obligations are met with precision. Key Takeaways Learn the basics of EFTA and Regulation E Understand how to apply Regulation E at your organization to detect processes and transactions that require Regulation E compliance Discover how Regulation E may apply to a large breath of areas in your institutions and functions for which you may rely on third-party vendors Review recent enforcement activity for non-compliance with EFTA and Regulation E Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 11, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Regulation E: Impacts Across Your Institution
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.