First CU Expands EnterpriseLoans

Published May 02, 2006, 1:00 a.m. EDT

|

Updated August 27, 2020, 2:14 a.m. EDT

1 Min Read

CHANDLER, Ariz. - (05/02/06) First CU celebrated the firstyear of its low-interest First Enterprise Loan program, whichtargets job-creating small business loans in low income areas. The$470 million credit union said its board has earmarked $2 millionfor the loans this year, up from $1.4 million last year. The loansare designed to support businesses that benefit or create jobs orservices for low- and moderate-income people and communities inArizona and can be used in conjunction with federally guaranteedloans under the Small Business Administrations 7aprogram.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Industry News

JPMorgan eyes European digital bank expansion: FT

JPMorganChase wants to expand its digital bank offerings to three more European countries, according to a new Financial Times report; M&T Bank Corp. elects Jerry Jacobs Jr. to the board of directors of both its parent and banking subsidiary; Citizens Financial Group names Chris Emerson as head of investor relations; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

5h ago
Data sharing

The risk for banks as embedded payments take off

Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.

By Cheryl Winokur Munk

6h ago
Artificial Intelligence

'Stop prompting, start delegating': Anthropic exec to banks

Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.

By Jasmine Ni

9h ago
Law and regulation

FDIC floats counting discount window borrowing toward liquidity

Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.

By Jasmine Ni

June 18
Industry News

Flagstar CEO recalls tough decisions to 'right the ship'

At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.

By Nathan Place
National Reporter

June 18
Digital wallets

What BILL Holdings gets from the JPMorgan Wallet

Back-office automation fintech BILL Holdings is using JPMorgan Payments white-label digital wallet to subledger its own clients' accounts. Reconciling client payments for BILL's corporate card, the BILL Divvy Card is the company's first use case.

By Joey Pizzolato
Reporter

June 18

Load More