National Leaders In PPP Lending

Which credit unions led the nation in the number of Paycheck Protection Program loans funded?

 
 

According to the U.S. Department of Treasury’s Paycheck Protection Plan data set, 926 credit union reported PPP loans since the program commenced on March 27, 2020. In aggregate, credit unions issued 194,340 loans over the past four months as they continue to do their part towards making sure the small businesses are financially equipped to staff and operate their company. True to the cooperative financial movement, 94.7% of loans at the top ten credit union PPP lenders by number are under $150,000.

See below for more insights into the leaders in credit union PPP lending.

 
 

TOP PPP CREDIT UNIONS NATIONWIDE (BY LOAN NUMBER)

FOR U.S. CREDIT UNIONS | DATA AS OF 07.06.20
© Callahan & Associates | CreditUnions.com
Credit Union Name State Total # Loans # Loans < $150,000 # Loans > $150,000 # $5M-$10M # $2M-$5M # $1M-$2M # $350K-$1M # $150K-$350K $ Amount Loans < $150,000
Mountain America FCU UT 7,007 6,563 444 0 3 20 117 304 $180,647,145
Greater Nevada Credit Union NV 5,915 5,219 696 9 26 40 165 456 $175,935,251
Navy FCU VA 5,691 5,536 155 0 0 6 32 117 $100,912,841
VyStar Credit Union FL 4,486 4,348 138 0 0 1 18 119 $105,003,262
Idaho Central Credit Union ID 3,875 3,681 194 1 0 8 47 138 $88,641,600
America First FCU UT 2,686 2,541 145 0 1 3 35 106 $71,826,599
OnPoint Community Credit Union OR 2,423 2,334 89 0 0 2 14 73 $57,254,740
BECU WA 2,383 2,301 82 0 0 4 23 55 $61,965,334
Suncoast Credit Union FL 1,952 1,916 36 0 0 0 7 29 $43,986,544
Redwood Credit Union CA 1,858 1,689 169 1 0 5 45 118 $59,641,453
Alaska USA FCU AK 1,748 1,637 111 0 3 5 25 78 $43,639,099
Central Minnesota Credit Union MN 1,686 1,594 92 2 0 2 31 57 $35,717,704
Members 1st FCU PA 1,652 1,494 158 0 2 6 33 117 $51,689,816
Self-Help FCU NC 1,599 1,367 232 0 12 24 75 121 $44,163,054
Space Coast Credit Union FL 1,528 1,510 18 0 0 0 3 15 $28,115,096

Source: United States Treasury Department

How To Serve Small Business - Insights From Successful PPP Lenders

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Duncan Bartley contributed to this article.

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