Greater Nevada Credit Union (GNCU) was recognized in May by Louisiana Economic Development as the state’s United States Department of Agriculture (USDA) Rural Development Lender of the Year. Vice President of Commercial Production Todd Hubbell accepted the award on behalf of GNCU.
Small businesses make up more than 97 percent of employers in Louisiana and account for more than half of the state’s private-sector workforce. In 2018, Greater Commercial Lending (GCL)—a wholly owned subsidiary of GNCU—completed six loans for businesses in Louisiana totaling more than $40 million and saving and/or creating more than 100 jobs in the state.
Established in December 2017, GCL has quickly made a name for itself. Three years running, GCL’s efforts have led to GNCU being named the USDA National Business and Industry Lender of the Year. Nationally, GCL has helped fund several high-profile USDA loans, including Ryze Renewables Reno and Ryze Renewables Las Vegas, a pair of eco-friendly renewable diesel refineries. These monies are helping build and open two biorefineries in Nevada that created more than 500 construction jobs and will add 140 permanent, full-time positions by early 2020.
By providing loans in rural communities all across the country, GCL is also able to help other credit unions and their members. More diverse loan portfolios mean smaller, local credit unions are able to bring in new income which can mean greater service offerings for those members.
GCL and GNCU are both headquartered in northern Nevada. For more information, visit gncu.org or GreaterCommercialLending.com.
Greater Commercial Lending Vice President of Commercial Production Todd Hubbell (middle) with Dr. Carrie Castille, state director for USDA Rural Development in Louisiana; and Louisiana Economic Development Secretary Don Pierson.