WESTERLY, R.I.–Westerly Community Credit Union (WCCU) recently met with Rhode Island General Treasurer James Diossa to discuss the state’s new community deposit program BankLOCAL and the “importance of helping Rhode Island’s small businesses secure loans.”
BankLOCAL will provide up to $30 million in state deposits to local banks and credit unions. This initiative supports local financial institutions like WCCU, enabling them to lend to more small businesses across Rhode Island, generating economic growth and opportunity in the Ocean State, the credit union said.
“Small businesses are the backbone of our community,” WCCU President and CEO Stephen J. White said in a statement. “By partnering with BankLOCAL, we can provide small businesses with the resources they need to not only survive, but to flourish.”