In the coming week, Grasslands Federal Credit Union (Grasslands FCU) will be distributing over $25,000 to more than 20 local non-profit organizations.
The global COVID-19 pandemic has wreaked havoc on many small businesses and organizations. Grasslands FCU has supported 54 Montana businesses by providing business loans through the Paycheck Protection Program (PPP), a federal program authorized in March 2020, which has provided financial relief for businesses economically impacted by the COVID-19 crisis. As an authorized Small Business Administration lender, the credit union received origination fees for administering Paycheck Protection Program loans. In the spirit of the Credit Union Philosophy, the credit union stepped up to help members pay it forward by distributing the bulk of the origination fees back to the communities they support.