Greater Nevada Credit Union (GNCU) was named the 2016 Cooperative Guaranteed Lender of the Year by the USDA Rural Development. GNCU obligated 17 loans worth over $120 million that were guaranteed by the USDA's Business and Industry Guaranteed Loan Program. The award was presented at the National Rural Lender's Association Conference in Washington D.C. during National Cooperatives Month. USDA Rural Development Director Herb Shedd applauded GNCU's comprehensive lending portfolio and participation in USDA programs that help rural businesses and communities succeed.

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Home > News > USDA Names GNCU Cooperative Guaranteed Lender of the Year at GNF - 11/18/16
USDA Names GNCU Cooperative Guaranteed Lender of the Year at GNF - 11/18/16
On November 4th we shared that the USDA Rural Development named
Greater Nevada Credit Union the 2016 Cooperative Guaranteed Lender
of the Year, after the credit union obligated 17 loans worth over $120
million, all guaranteed by the agency's Business and Industry Guaranteed
Loan Program.
The award was announced October 28th
during the National Rural Lender's
Association Conference in Washington, D.C., which is part of USDA's
observance of National Cooperatives Month.
Today a media announcement about the honor was made at locally
at Greater Nevada Field.
USDA Rural Development Business Programs Director Herb Shedd applauded the credit union's efforts.
"They have a comprehensive lending portfolio around USDA programs. Not only have they obligated loan guarantees for 17 rural
businesses this year, they are now participating in the Bio refinery Assistance program, and the Multi-Family Guaranteed Housing
Program. Greater Nevada has a passion to help their credit union members and America's rural communities to succeed. That is exciting
to see, especially when you consider the rural impacts in these many communities," Shedd said.
During the announcement, Shedd honored GNCU President and CEO Wally Murray, Vice President of Business Services Jeremy Gilpin,
and the GNCU commercial lending team for their outstanding performance.
"We are thrilled to be the first institution from the Silver State to receive this recognition from the USDA," Wally said. "It is also an
honor to be the first credit union in the nation to have ever been the top annual producer for the Business & Industry Guaranteed Loan
Program, and the fact that we helped generate nearly twice the amount of business capital to rural American than the next closest
institution is also quite gratifying."
Click here to read all of Wally's comments at the event which included well-deserved recognition of and appreciation for Greater
Nevada's commercial lending team.
In Nevada, $11.2 million in guaranteed loans were obligated, with five rural businesses including a Mound House clutch manufacturer,
the Elko Ledgestone extended stay hotel, a Comfort Inn in Fallon, and the Ruby 360 Lodge in Lamoille all receiving Greater Nevada
Credit Union loans guaranteed by USDA RD Nevada.
Rural businesses in Colorado, Florida, Louisiana, Montana, South Dakota, and Virginia also received guaranteed loans from Greater
Nevada Credit Union.
USDA, through its Rural Development mission area, has an active portfolio of more than $215 billion in loans and loan guarantees. These
programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve
the quality of life in rural America.
11/18/2016 Anita Good
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