Superior CU Becomes First Ohio Credit Union to Open a State Linked Deposit Loan
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Superior CU Becomes First Ohio Credit Union to Open a State Linked Deposit Loan

Aug 10, 2022, 14:13 PM by C. Fields

6/15/2021

LIMA, OH—Superior Credit Union is thrilled to be the first Ohio credit union to open an Ag-LINK loan. Credit unions first became eligible to participate in the linked deposit program offered by the state of Ohio in 2020.
A local farmer was the first Superior member to take advantage of this opportunity through Ag-LINK. He was able to significantly lower his loan rate.

Superior is delighted to take part in the Ag-LINK and GrowNOW programs,” said Keith Eiden, Vice President of Lending at Superior Credit Union. “Being able to offer our entrepreneurial members a lower loan rate will help stimulate the local economy and provide more value to our members.”

The ability to serve local entities like farmers further empowers communities and aligns with the credit union philosophy of people helping people.

Ohio credit unions like Superior provide affordable and consumer-focused financial services to agriculture and small businesses. With credit unions now included to offer both the Ag-LINK and GrowNOW linked-deposit programs through the Ohio Treasurer of State, local communities have additional finance options available to spur economic growth,” explained Emily Leite, Chief Advocacy Officer of Ohio Credit Union League. Leite went on to say, “Participating in both programs will allow credit unions to offer either agricultural businesses or general small business members a lower rate of interest on new or existing loans.”

Interested members can visit the Small Business Center page at www.SuperiorCU.com to learn more.

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