Business Lending Spotlight: First Financial Credit Union
This is a series of stories highlighting credit unions making small business loans in Missouri and the need for S. 2231, the Credit Union Small Business Jobs Act.
First Financial Credit Union
First Financial Credit Union opened its doors on April 20, 1949 as Jefferson City Highway Credit Union. The original sponsor groups included the Missouri Highway Transportation Department and the Missouri Highway Patrol.
First Financial converted to a community charter in April 2005, in order to provide services to the extended families of current members and people who live or work in Cole County. The credit union has grown to include those who live or work in Cole, Callaway or Moniteau Counties, employees, retirees and their family members of MoDOT, Missouri Highway Patrol and First Financial Credit Union. In addition to its stand-alone branch in Jefferson City, First Financial operates Shared Branch kiosks at the General Headquarters of the Missouri Highway Patrol and Missouri Department of Transportation.
“It has been the long standing philosophy of our credit union that the reason we exist is to serve the financial need of the members,” states First Financial President Marsha Borgmeyer.
First Financial has begun offering business lending to their members. There is currently one business loan financed by First Financial Credit Union, a longtime member who owns a trucking company and wanted to expand his business. The loan provided by First Financial Credit Union allowed the member to purchase four additional trucks. First Financial Credit Union hopes to help other small business owners grow their current operations.
TAKE ACTION for small business owners:
Credit unions outside of the Kansas City and St. Louis Chapters: Make contacts by phone, by email, and/or in person on April 26, highlighting the small business lending efforts and asking for support of S. 2231, the Credit Union Small Business Jobs Act.
• Grassroots Action Center (please be sure to register BEFORE writing your email)
• Credit union presidents and small business owners are encouraged to make contacts directly to McCaskill and Blunt key staff members
PLEASE NOTE: To give credit for calls and emails made outside of the Grassroots Action Center and 877 number, please share those contacts made with Amy McLard.