The United States Department of Agriculture (USDA) named Greater Nevada Credit Union (GNCU) the 2016 National Lender of the Year, after the credit union obligated 17 loans worth more than $120 million.
The USDA’s Business and Industry Guaranteed Loan Program guaranteed all the loans.
The award was announced on Oct. 28 during the National rural Lender’s Association Conference in Washington D.C. as part of the USDA’s observance of National Cooperatives Month.
USDA Rural Development Business Program Director Herb Shedd applauded the credit union’s efforts on Friday at Greater Nevada Field.
“Small business continues to be the back bone of the economy,” Shedd said, after presenting the award to GNCU President and CEO Wally Murray.
“Greater Nevada has a comprehensive lending portfolio around USDA programs. Not only have they obligated loan guarantees for 17 rural business in seven states this year, they are now participating in the Biorefinery Assistance program and the Multi-Family Housing Guaranteed Program,” 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.
Jeremey Gilpin talked about his passion for helping rural communities.
“I have never had the opportunity to work with a company and team with the same vision,” Gilpin said. “I have finally gone speechless,”
In Nevada, $11.2 million in loans were guaranteed by USDA over the past three years, with six rural businesses including a Mound House clutch manufacturer, the Elko Ledgestone extended stay hotel, the Comfort Inn in Fallon, and the Ruby 360 Lodge in Lamoille benefitting from Greater Nevada Credit Union loans guaranteed by USDA RD Nevada.
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