Poor Banks--Members Demand CU Small Biz Loans

Poor banks. They're having to fight credit unions who have the audacity to try to serve their members with small business loans. That's the tone of a tongue-in-cheek article written by the San Antonio market's top business columnist.

David Hendricks' article, "Man, credit unions have really got their nerve," appears in the San Antonio Express-News (Feb. 26). It notes that "those darn credit unions" are "at it again, trying to lure business away from banks."

He tells the story about credit unions responding to member demands for small business loans. And then the banks got selfish.

"That's when credit unions became alarming, and banks knew what to do. They hired lobbyists to make sure the credit unions didn't get too big for their britches. Congress set things straight in 1998 by limiting credit-union business loans to 12.25 percent of any credit union's assets."

Mr. Hendricks is one smart business columnist. Read the entire piece here.

Small Biz Cites Credit Union for Its Success

Cwick Crown, a small family-owned crown moulding business whose products will be launched in 56 New Jersey Home Depots this week, has cited its success in part to its relationship with USA Federal Credit Union in San Diego, according to a story in the Nov. 1 The Daily Transcript.

The report says Cwick Crown interviewed several other financial institutions at its start-up prior to partnering with USA Federal Credit Union, but saw that many of the banks would charge high fees. Says Ben Rasmussen, chief operating officer of Cwick Crown:

We didn't get the personal treatment we have at USA FCU.

Click here for the complete story online.

A major motion picture: The Story of the Little Guy

This three and a half minute video chronicles the Little Guy's quest for a small business loan. Is he successful? Watch the this epic tale to find out.