SCFCU Honored for Commitment to Small Business Success
St. Cloud Financial Credit Union is proud to announce that is has been honored by the U.S. Small Business Administration (SBA) for its commitment to helping small businesses succeed.
The U.S. Small Business Administration’s Minnesota District is honoring 10 lenders throughout the state for their dedication to small businesses and helping strengthen communities across the state, with SCFCU being recognized as having the highest participation in SBA-backed loan programs among credit unions.
SCFCU and nine other Minnesota lenders will be honored at the Minnesota Small Business Lenders Conference on Sept. 25, receiving an award based on the number of SBA-guaranteed approved loans in Minnesota from July 1, 2024 to June 30, 2025.
“Small businesses are at the heart of our communities, and we’re proud that our SBA lending efforts are making a real difference,” said Chase Larson, SCFCU Executive Vice President and Chief Lending Officer. “This recognition is a testament to our team’s dedication to helping members achieve their goals.”
SCFCU’s business and commercial lending operations grew from inception to more than $60 million in just 36 months, leading to the credit union being recognized as one of Minnesota’s top five fastest-growing commercial lending credit unions in 2024. At the time of that recognition, it noted that SCFCU saw an increase of $12.76 million in commercial loans year-over-year, which equates to a 52.68 percent change — the second-highest percentage on the top five list of fastest-growing commercial lending credit unions. In totality, SCFCU originated in excess of $24 million with net growth above $13 million in 2024.
“This achievement reflects the hard work, passion, and dedication of our entire team and the support from our community — especially our members, who inspire us to keep delivering the resources and support they need to grow and succeed,” said Amy Macho, SCFCU Director of Business Administration.
About St. Cloud Financial Credit Union
St. Cloud Financial Credit Union is a not-for-profit financial cooperative founded in 1930. Currently with over 27,000 members and more than $400 million in assets, the credit union is proud to serve members in Central Minnesota with branches in St. Cloud, Sartell, Sauk Rapids, Becker, and Albertville. The organization prides itself on making a meaningful difference through human connection for members and their local communities. Learn more by visiting www.scfcu.org.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.