May28

Q2 Small Credit Union Roundtable

Held quarterly—with additional sessions as needed—these open discussions cover topics like growth strategies, succession planning, operational hurdles, and more.
Jun3

YP Summit

This conference is an excellent opportunity to learn how to become a stronger leader in the Credit Union Movement, hear from expert speakers, grow your network, develop skills in workshops, and more.
Jun3

Collectors Council; Session Two

This session provides an opportunity to share challenges and successes with collection and recovery peers, ask questions and learn from each other, as well as gain insights from outside legal and industry experts.
Jun5

Risk Management Council; Session Two

By connecting peers in these areas, this council fosters communication and support that helps the industry identify and reduce the many areas of risk that credit unions face daily.
Home » Advocacy On The Move »

Opportunity for Credit Unions to Serve in Natural Disasters in Wyoming

Posted by on March 25, 2025

With fire season approaching and Wyoming still facing severe drought conditions, the risk of wildfires and disasters will remain high unless there is a significant change, such as a wet spring.

With the passage of Senate File 195, a Small Business Emergency Bridge Loan Program was established. The legislation specifies that participating credit unions and banks will play a crucial role in administering and processing the three-year, zero percent emergency bridge loans. They will be responsible for issuing the loans to small businesses affected by declared natural disasters. Loans are capped at $750,000.00.

The Governor will declare natural disasters and designate eligible counties.

The legislation establishes a two percent loan origination fee to be distributed to the financial institution.

The Office of State Lands and Investments will oversee the program, but the actual disbursement and repayment of funds will be managed by the participating financial institutions. The office intends to implement emergency rules prior to the effective date of July 1, followed by the regular rules promulgation process. Financial institutions will register with the office of state lands and investments to participate.

GoWest will provide additional details once the rules have been issued.

Posted in Advocacy on the Move, Wyoming Advocacy.