Small Business Administration Certifies

Alliance Credit Union

As An Approved SBA Lender

Alliance Credit Union is the first credit union in Missouri to be approved as an SBA lender.  The lender’s new status was confirmed by SBA St. Louis District Director Maurice Dubé, who presented Alliance with a certificate reflecting the credit union’s new status.

“Credit unions have a commitment to help improve the communities that we serve,” said Dave Meyer, Vice President of Lending at Alliance . “The SBA approval gives us a valuable tool to help serve our members who are small business owners. More than 70 percent of all job growth comes from the small business community, so we know the service that we’ll provide is critically important to the local economy.”

Alliance Credit Union was chartered in 1948 to serve Emerson employees. The credit union diversified its field of membership over the past 20 years to also include area autoworkers, members of labor unions and employees of other local companies and groups.

Today the credit union serves those who work or reside in St. Louis County or St. Charles County , along with members of their families and select employee groups. The credit union has more that 20,000 members, with assets of $112 million.

Alliance made its first “small business loan” more than 25 years ago to Rottler Pest Control, and today finances the company’s fleet of vehicles. Due to requests from its members Alliance asked for and received expanded lending authority from the Missouri Division of Credit Unions, the state credit union regulator, in January 2003. The credit union then hired several executives with business lending experience to further develop small business lending services.

“We’re a relatively small financial institution compared to area banks,” said Appel, one of the executives with commercial lending experience. “However, there are a significant number of businesses that we can serve that are too small for other financial institutions. There is a tremendous need in the small business community that is not being filled. These businesses will be our niche.”

Alliance Credit Union plans to differentiate itself from traditional commercial lenders with its attractive rates/fees, and by its service quality.  For more than 20 years surveys by organizations like USPIRG, Bankrate.com and American Banker show credit unions are first in service satisfaction among all financial institutions.

“Small businesses will receive the same level of quality service from Alliance that we provide on the consumer side," said Meyer. “Our focus on service won’t change. We’ll treat them like owners."

“We are proud to be the first credit union in Missouri , and one of the first in the region, to be approved as an SBA lender,” said Dennis Sommer, President/CEO. The credit union will focus on commercial property, investment property, fleet financing and credit lines he said.

Contact Spencer Ash, Business Loan Manager, at (636) 343-7005 for additional information on the business services available at Alliance Credit Union.