SANDY, Utah, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Based on numbers from the Small Business Administration (SBA) for fiscal year 2024, Mountain America Credit Union has once again made the most 7(a) loans nationally (for the fifth year in a row) among credit unions. Mountain America topped this list by making 233 loans, totaling $90.1 million, which is the second highest total amount lent by a credit union. The credit union also recently earned the National Association of Development Companies (NADCO) Community Impact Credit Union 504 Lender of the Year Award.
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“Supporting small businesses is a true honor for us as they play a crucial role in enriching our communities,” said Michael Griffiths, senior vice president of business lending at Mountain America. “We appreciate the recognition from NADCO, which highlights our team’s hard work and dedication to helping small businesses define and achieve their financial dreams.”
The 7(a) program is the SBA’s most common type of loan, helping small businesses with a variety of needs such as real estate, equipment, working capital, and business debt refinancing. The 504 program provides long-term, fixed-rate loans for major fixed assets like equipment, vehicles, and real estate, which in turn promotes business growth and job creation.
“We are honored to recognize Mountain America Credit Union with the NADCO Community Impact Award, 2024 Credit Union 504 Lender of the Year,” said Rhonda Pointon, president and CEO of NADCO. “Mountain America’s partnership is critical to advancing the mission of the SBA 504 program. Their commitment and dedication ensure small business owners across the country get the access to capital they need to succeed and make a positive impact in their community. Thank you for your steadfast commitment to the program.”
To learn more about Mountain America’s resources for small businesses, visit macu.com/business.
Disclaimer: Loans on approved credit.
About Mountain America Credit Union
With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
