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National Cooperative Bank Originates Over $1.5 Billion in Loans in 2020

Arlington, VA (January 21, 2021) — National Cooperative Bank (NCB), a leading financial institution committed to serving cooperatives, their members and socially responsible organizations nationwide, reported $1.51 billion in loan originations for 2020.

NCB’s Real Estate Line of Business originated $954 million in financing for housing communities and other commercial real estate projects across the country.

NCB’s National retail team originated $248 million for 949 individual unit owners across the country and NCB’s Local Ohio retail team originated 101 loans totaling $8.8 million.

NCB’s Commercial Lines of Business originated $299 million, including $90 million for PPP loans to co-op organizations and small businesses nationwide.

“Given the uncertain environment in 2020, NCB had a successful year in loan originations”, stated Casey Fannon, President of National Cooperative Bank. “Low interest rates assisted in our strong performance and the ability to serve our customers providing PPP loans to help their business during the economic crises.”

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