Loan To Act As Secondary Capital

Register now

Cessna Employees Credit Union has made a $50,000 loan that is to act as extended secondary capital to Communities United Credit Union, a community development CU that serves low-income members in northeast and central Wichita.

"We see this loan as a win-win proposition for both of us," Larry Damm, Cessna Employees Credit Union president, said. "As a larger credit union serving a limited field of membership, we can share some of our assets with Communities United."

CUCU Manager Angie Franklin credited Cessna Employees CU for going "the second mile" on the loan, since it was the first time such an investment has been made in the state of Kansas.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER