Westbrook, Maine, Dec. 29, 2020 (GLOBE NEWSWIRE) -- At the close of an uncertain year for Maine small businesses, Infinity Federal Credit Union (FCU) was named the top credit union lender by the Small Business Administration (SBA) for the third consecutive year. The award was presented by Maine SBA representatives to the Business Services team at the credit union’s main office in Westbrook.
Business Services at Infinity FCU is in its third year of operations and continues to grow exponentially year over year. In addition to traditional SBA loans, Infinity FCU swiftly and successfully implemented a process for disbursement of the federal government’s Paycheck Protection Program (PPP) Loans, lending over $5 million to keep the doors of 238 Maine small businesses open. Infinity FCU nearly doubled their business membership base in 2020, with 75% of PPP loans going to new business members.
With repeat honors as the top credit union lender and quick action in disbursing PPP relief funds, Infinity FCU continues to demonstrate a strong commitment to the community and their vision to ‘do banking differently to keep you a step ahead in life’. “Finding customized solutions and working with the SBA has contributed to the growth and development of our small business services and has allowed us to lend to businesses that would not have qualified for a traditional small business loan,” said Tim Drapeau, Infinity FCU’s Small Business Development Manager. “With their continued support, it has allowed us to create possibilities to make a difference in our members’ lives.”
About Infinity Federal Credit Union
Guided by our vision to do banking differently to keep you a step ahead in life, Infinity FCU has been serving Cumberland and York counties and the city of Bangor since 1921. We are a not-for-profit cooperative committed to the enrichment of Maine communities through financial inclusion, community service, and our dedication to Banking With Heart™. To learn more about us, visit www.infinityfcu.com and follow us on social media @infinityfcu.
