Greater Nevada Credit Union recently launched a new, wholly owned commercial lending subsidiary called Greater Commercial Lending, the credit union announced late Monday.
The $825 million-asset GNCU, headquartered in Carson City, Nev., also owns two other subsidiary companies: Greater Nevada Mortgage and Greater Nevada Insurance.
Wally Murray, president and CEO of Greater Nevada Credit Union, also will serve as president/CEO of the new company. Jeremy Gilpin, previously GNCU’s vice president of commercial services, will serve as the executive vice president of Greater Commercial Lending.
According to a statement released Monday by Greater Nevada Credit Union, Greater Commercial Lending “is an expansion of GNCU’s nationally-recognized commercial services department.”
“The new company will provide expert lending services to businesses not only within Nevada, but across the United States in sectors such as energy, community facilities, industrial, mining, commercial and export lending,” GNCU said.
The United States Department of Agriculture named Greater Nevada Credit Union its National Lender of the Year for 2016 and 2017, and the Small Business Administration awarded GNCU the Community Credit Union Lender of the Year in Nevada in 2016.
“The creation of Greater Commercial Lending will position us to fill these types of lending needs even more effectively in the future,” Murray said. “We can apply our expertise in commercial originating and servicing to expand the number of companies we can assist, increase the number of jobs we can help create and save, and better partner with other governmental programs and lenders.”
Greater Nevada serves more than 64,000 consumers and small businesses.