SBA Designates Coast360 as Preferred Lender


Maite, Guam – ( January 30) – The U.S. Small Business Administration (SBA) recently designated Coast360 Federal Credit Union a Preferred Lender in Guam after demonstrating a proficiency in processing and servicing SBA-guaranteed loans.

“Coast360 is the first and only credit union on island designated as an SBA Preferred Lender,” according to Ken Lujan, SBA Branch Manager.  “Under the Preferred Lender Program, the SBA delegates the final credit decision and most servicing and liquidation authority and responsibility to carefully selected PLP lenders,” Lujan adds.

“We are honored to be appointed as an SBA Preferred Lender and look forward to growing our relationships with the business community.  As a credit union, our earnings are returned to our members in the form of dividends on deposits and lower rates and fees on loans.  Together with the range of business solutions we offer, Coast360 is a more economical alternative for  business financial needs,” says Coast360 CEO Richard Northey.

Coast360 Federal Credit Union, formerly GGEFCU, was founded in 1962.  Serving over 50,000 members today, the credit union offers a full line of products and services for personal and business banking. 


[(L – R): Jane Ray, Business Relationship Officer; Lito Gatuz, Chief Credit Officer; Richard Northey, Chief Executive Officer; Ken Lujan, SBA Branch Manager; Josette Mueller, SBA Economic Development Specialist; Noela Santos, Asst. Business Relationship Officer; Jamielyn Riley, Credit Analyst.]