ST. LOUIS, Feb. 2, 2022 – St. Louis Community Credit Union (SLCCU) has created a Business Services division that will provide much-needed capital to established business owners in their desire to build wealth.
Alex Fennoy has joined SLCCU as Senior Vice President of Business Services to lead this area. Alex came to the organization with nearly 30 years of banking experience, including a strong focus on business lending. Most recently, Alex served as Executive Vice President and Community & Economic Development Director for Midwest BankCentre in St. Louis. He also has a solid background in community development, working with an expansive network of partners and consumers to provide accessible and affordable banking services. Alex received his Bachelor of Science degree (with an emphasis in Accounting) from Fisk University in Nashville, Tennessee.
Through SLCCU’s Business Services division, up to $5 million in business loans will be offered to qualifying applicants. In addition, a key component of this entrepreneurial outreach involves strong community alliances. The Credit Union has partnered with the St. Louis Small Business Empowerment Center (SBEC) to offer established, local businesses loans between $10,000 and $250,000 for working capital.
“I’ve long admired St. Louis Community Credit Union’s ability to provide targeted resources that invest in the ultimate success of the entire community,” says Fennoy. “By helping business owners build and maintain wealth, we ensure that everyone has the opportunity to achieve their dreams and create lasting financial legacies. I’m honored to be part of such a vital program that will transform the lives of many.”
For eight decades, St. Louis Community Credit Union has been a true champion for the communities it serves, helping people reach their desired financial goals. To learn more about SLCCU’s business services, visit www.stlouiscommunity.com/loans/business-loans.
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About St. Louis Community Credit Union
For 80 years, St. Louis Community Credit Union (SLCCU) has been a true champion for the community. As a Community Development Financial Institution, the organization values and recognizes the importance of financial inclusion and belonging. As part of its giveback, SLCCU offers affordable account services and loans, as well as several accessible locations in the heart of the community. It also aligns with partners like Prosperity Connection helping its members receive free financial education and coaching services. Through its community-focused outreach efforts, SLCCU offers members the opportunity to connect to much-needed services that may affect their daily lives outside of banking (e.g., access to healthcare, workforce development and education).
SLCCU serves residents of St. Louis City and those of Franklin, St. Louis and St. Charles counties in Missouri; as well as St. Clair, Madison, Monroe and Jersey counties in Illinois. SLCCU is a Low-Income Designated credit union and one of the largest Minority Depository Institutions in the country (per the National Credit Union Administration). All accounts are federally insured to $250,000 by the National Credit Union Administration, a deposit-insurance agency of the federal government, and privately insured up to an additional $250,000 by Excess Share Insurance. For more information, please visit www.stlouiscommunity.com.
