OTTUMWA — Community 1st Credit Union was recognized as a top lender in Iowa for fiscal year 2013 by the U.S. Small Business Administration during an award presentation today in Ottumwa.
The credit union approved 11 SBA guaranteed loans worth more than $2 million to small businesses in the state during the fiscal year.
"Small businesses are the foundation of our nation's economy, and helping them get the financing they need to succeed is of vital importance," said Joe Folsom, director of the SBA's Des Moines district office. "We're pleased to work with lenders such as Community 1st in helping Iowa's small business community grow and prosper."
Accepting the award for Community 1st Credit Union were Brian Dostal, senior commercial loan officer; Steve Huedepohl, commercial loan officer; and Chief Financial Officer Jim Holle.
"We are very proud to be honored with the top SBA lenders in the state," said Dostal. "We work hard at giving our commercial members the best loan service possible."
Overall in Iowa, the SBA guaranteed 525 loans for $194.8 million during fiscal year 2013, which ended Sept. 30.
C1st is headquartered in Ottumwa and employs more than 160 people. There are branches in Albia, Amana, Bloomfield, Cedar Rapids, Centerville, Chariton, Fairfield, Grinnell, Indianola, Mount Pleasant, Oskaloosa, Ottumwa, Pella and Washington. It is a not-for-profit financial cooperative with more than $472 million in assets serving more than 50,000 members for more than 75 years.