KULM, N.D.–The $100-million Hometown Credit Union has been named as the top business lender nationwide in its asset size, according to analysis by Sageworks’ Bank information.
The company said it used more than 1,000 metrics; in Hometown CU’s case, the ranking was based on the dollar amount of loans made as of June 30, 2015. The credit union has a $75-million portfolio of business loans.
“Family farms and small businesses, especially those operating in rural communities, have been finding it increasingly difficult to obtain credit due to recent economic factors as well as massive consolidations in the commercial lending arena” said Jeff Olson, president-CEO of the Credit Union Association of the Dakotas. “Hometown Credit Union’s well deserved recognition for successful lending is a great example of how credit union member business lending provides essential economic stimulus in our small rural communities.”
“Hometown Credit Union was founded back in 1949 for a very specific purpose” said Harold Hagen, CEO of the credit union. “We were established as an agricultural credit union with the primary goal of serving the farm and ranch families of south-central North Dakota…Our board strives to provide the best financial services possible and making member business loans to our farm and ranch members is truly our calling. We take pride in the fact that we are a member owned cooperative and we take seriously the responsibility that we have to finance and grow our rural communities.”