February 15, 2010
More and more, small businesses are seeking loans from local credit unions rather than large banks. Why?
Businesses Seeking Loans
Ease, security, low rates, and fast reliable member-owner services from our Indianapolis Credit Union are among the answers. Since their development, local credit unions are infamous for their low rates on loans, but today they offer so much more. Personal loans, Home Equity, Home Loans, Auto Loans, and Recreational Loans are all available with membership at Financial Center.
According to a recent Washington Post story, the Credit Union National Association's chief economist has announced that credit unions' small-business loans are up from less than $10 billion at the end of 2003 to more than $35 billion last September.
Lawmakers are trying to change the 1998 loan cap from 12.25 percent to 25 percent, in a bill proposed to Congress in December. Experts say credit union loans will be as high as $10 billion in the first year if this cap is raised.
Consider a loan for whatever your need at our local Indianapolis credit union. Learn more about Indianapolis Loan Rates, Credit Union Banking, and FCFCU membership.