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AmeriCU paves way with Linked Deposit Program

Posted 11/15/22

AmeriCU is the first credit union in New York to have a business member approved for the Excelsior Linked Deposit Program.

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AmeriCU paves way with Linked Deposit Program

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ROME — AmeriCU is the first credit union in New York to have a business member approved for the Excelsior Linked Deposit Program (LDP). The LDP helps existing New York State small businesses, minority-owned businesses, or businesses in economically distressed areas obtain reduced-rate financing to improve their business. 

The LDP helps strengthen small businesses by making borrowing less expensive, officials said, adding that qualifying business owners can strengthen their business and gain a competitive edge against their competitors by utilizing this program offered by Empire State Development. In order to apply for LDP you must use a participating lender and meet the requirements.   

For information, stop into one of AmeriCU’s Financial Centers to start the application process or visit americu.org.

The LDP has existed since 1993, starting in October of 2021 credit unions were allowed to participate. “AmeriCU is excited to support small local businesses through this reduced-rate financing program,” said John Arnold, vice president, business services. “By utilizing LDP qualifying business owners can focus on future goals and continued growth.”  

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