Mountain America Ranked #1 Credit Union Lender for Payroll Protection Program Loans
Jul 17, 2020, 12:57 ET
SANDY, Utah, July 17, 2020 /PRNewswire/ -- Mountain America Credit Union is pleased to be ranked the #1 credit union for Payroll Protection Program (PPP) loans.
"Small businesses are the backbone of our economy, and we recognize the important role they play in maintaining strong communities," says Mike Turner, chief lending officer at Mountain America Credit Union. "We are honored to have helped so many businesses retain their employees and keep their doors open during this difficult time."
Through the PPP program, Mountain America helped more than 7,000 businesses navigate the COVID-19 pandemic. With the average PPP loan amount just over $50,000, Mountain America has been able to help the smallest of companies and communities with the most need.
Prestman Auto, a Mountain America business member for the last ten years, was able to keep its 54 employees on the payroll by securing a PPP loan. "Amidst all the uncertainty at the time when COVID-19 was spreading worldwide, it was reassuring to know our credit union was truly there for us when it mattered most," says Jason Olsen, president at Prestman Auto. "I don't think for one minute we would have gotten the type of support, communication, and expediency that we got through Mountain America if we had gone through a traditional bank. This, among many other reasons, is why we have chosen to give our banking business to Mountain America over a regional or national bank. We have a close relationship with everyone we work with; we receive incredible support whenever it's needed, and they are in our court, always ready to help in any way possible."
Joe Mamma's Breakfast Eatery, a business member since 2018, also noted its experience in working with Mountain America. "The PPP loan process with Mountain America went as smooth as a loan process could possibly go. It is nice to have a representative here locally who knows us," says Kathleen Wise, owner of Joe Momma's Breakfast Eatery in Meridian, Idaho. "Working with Mountain America doesn't have that big bank feel; it feels like working with a small business."
As a leader in business lending and services, Mountain America has been ranked the #1 SBA lender for credit unions by Callahan and Associates for the past 16 years. Currently, Mountain America ranks second nationally for business deposits for credit unions.
About Mountain America Credit Union
With more than 900,000 members and $10 billion in assets, Mountain America Credit Union assists members on the right path to help them identify and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 95 branches across five states, thousands of shared-branching locations nationwide and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
SOURCE Mountain America Credit Union
