UVA Community Credit Union recognized by Small Business Administration

written by Newspack Team | July 8, 2015

UVA COMMUNITY CREDIT UNION RECOGNIZED BY SMALL BUSINESS ADMINISTRATION

Charlottesville, Virginia, July 8, 2015: Once again, the U.S. Small Business Administration (SBA) has recognized UVA Community Credit Union’s success in supporting small businesses by naming it the

Top Credit Union in the Richmond District for fiscal year 2014. This honor is given to the credit union with the highest number of loans originated and closed in Virginia with the exception of the Washington, D.C., metropolitan area. This is the fifth time in the last six years that the credit union has topped the SBA’s list. Alison DeTuncq, President/CEO and Michael D. Lyster, Vice President of Commercial Lending, accepted the honor on behalf of the credit union.

“We are pleased to recognize the University of Virginia Community Credit Union as our Top Credit Union for FY 2014.” says Carl B. Knoblock, District Director, SBA Richmond District office. “Credit unions fill a crucial niche in the small business lending market in Virginia by offering smaller dollar loans which are in high demand. We sincerely appreciate the credit union’s commitment to meeting the financing needs of Virginia’s small businesses.” In fiscal year 2014, the credit union approved the largest number of SBA loans in this region. More than half of these were to start-ups, a third were to women-owned businesses and a third were made to businesses located in a historically underutilized business zone (HUBZone) or low and moderate income (LMI) area. The industry sectors included construction, manufacturing, transportation, professional and business services, health services, and food service.

“We are very grateful to have the SBA as a partner to help us serve our business community,” commented

Michael Lyster, VP of Commercial Lending. “The award is a reflection of our long-standing commitment to meeting the financial needs of the local, owner-operated business community that we are honored to serve.”

The credit union is already on track in fiscal year 2015 to exceed these results. Non-SBA financing is also up. “Thanks to Michael and his team’s efforts, there is the growing recognition among business owners and entrepreneurs in Central Virginia that the credit union has the know-how and resources to support their goals,” says credit union president/CEO Alison DeTuncq. “We are very proud to be named Top Credit Union and even prouder to partner with the SBA to make that capital available.”

UVA Community Credit Union is a not-for-profit, member-owned cooperative that provides a wide range of convenient and professionally managed financial services to its more than 65,000 members. Membership is open to those who live, work, or own a business headquartered in Charlottesville, Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, or Orange.

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