financial institution

Greater Nevada Credit Union (GNCU) has been certified as a Community Development Financial Institution (CDFI). The U.S. Department of Treasury issued the certification to GNCU in January of this year. With $1.6 billion in assets, GNCU is both the largest financial institution and the only CDFI-certified credit union with headquarters in the state of Nevada.

Greater Nevada Credit Union, a Carson City-based credit union serving northern Nevada, contributes $25,000 as the first corporate sponsor and financial institution to the Audacity Fund Reno, which provides funding, education and support to local business owners from underserved populations.

CARSON CITY — To assist with disaster relief during this devastating fire season, Greater Nevada Credit Union has donated $30,000 to three different credit unions coordinating relief efforts in California and Oregon. Rogue Credit Union Foundation in Medford, Ore.; Redwood Credit Union Community Fund in Santa Rosa, Calif.; and Sierra Central Credit Union in Yuba City, Calif. will each receive $10,000 to assist with ongoing relief efforts.

The first USDA Business and Industry CARES Act loan, intended to protect America’s small farms and businesses amidst the COVID-19 pandemic, went to an aquaculture farm in Iowa and was brokered by Carson City-based Greater Commercial Lending (GCL). These CARES Act loans provide working capital to help rural businesses prevent, prepare for or respond to the effects of the coronavirus pandemic.

Greater Nevada Credit Union has awarded 31 Nevada students with scholarships to continue their academic pursuits through the GNCU Scholarship Program. $22,000 went to eleven students from the Carson City area.

Greater Commercial Lending (GCL) continues to accept applications for the Paycheck Protection Program (PPP), authorized by the U.S. Small Business Administration (SBA) as a result of the recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act). The company is one of the earliest business lenders to fully adopt the PPP in the State of Nevada since opening applications on Friday, April 3. By mid-day on Monday, April 6, over 400 Nevada businesses had submitted applications to GCL.

The Nevada Department of Employment, Training, and Rehabilitation (DETR) is requesting those employers who will close before the end of March to submit their first quarter 2020 Employer’s Contributions and Wage Reports as soon as possible. Employers can utilize online services for filing and making payment. The advanced timeline applies only to reporting, with payment of any taxes not due until April 30, 2020.

The Carson City Sheriff’s Office has recently seen an increase in what is known as a “Virtual Kidnapping Scheme.” This is where criminals call unsuspecting people on their cell phone, based on research, and convince them they have kidnapped a family member, demanding a ransom be paid quickly.

Greater Nevada Credit Union (GNCU) has partnered once again with the Reno Aces and Reno 1868 FC to help provide toys for the holidays to charitable organizations in Carson City.

Dawnyel Ray has been named the new Branch Manager of Greater Nevada Credit Union’s (GNCU) Dayton Branch located at 555 U.S. Highway 50 East, Dayton.

Ray joins GNCU with more than seven years of banking experience, including previous roles as an assistant branch manager and a personal banker. She also has six years of management experience within the car rental business.

“I am looking forward to the opportunity to strengthen and grow our relationships in the Dayton community and to help my new team inspire one another,” Ray said.

Greater Nevada Credit Union (GNCU) has named Rachel Clerico as its Marketing Manager.

CARSON CITY — Greater Nevada Credit Union recently received the Editor's Choice award from BadCredit.org for its commitment to financial education through proactive outreach.

IRS Revenue Procedure 2016-47 gives information and guidance about waivers of the 60 day rollover requirement of IRA distributions. You can print it out and use the model letter IRS provided. If you take a distribution from your IRA, 403(b), 457(b) or a qualified retirement plan, you can “pay it back” within 60 days and there is no tax on the distribution. And, the 10% early withdrawal penalty for folks under age 59 ½ does not apply.

Kids of all ages are invited to Greater Nevada Credit Union’s trick-or-treat event from 3:00 p.m. to 5:00 p.m. on October 31 at the Eagle Station branch located at 451 Eagle Station Lane in Carson City.

Guests can play Halloween games, enjoy treats, and get their pictures taken with Reno Aces baseball mascot Archie from 3:00 p.m. – 4:00 p.m. There is no charge to attend, and the branch is also collecting canned food to benefit the Food Bank of Northern Nevada from those who would like to donate.

Noah Elsfelder has joined Greater Nevada Credit Union as Business Services Specialist. He brings more than 12 years of banking experience to Greater Nevada and the businesses it serves.

In his new role, Elsfelder will help establish and maintain Greater Nevada Credit Union’s business banking relationships. Greater Nevada offers a full range of business banking products and services such as checking accounts, merchant services, cash management, as well as business loans, including construction, SBA and agriculture.

Buying a vehicle is now an even better deal for Nevadans who get their financing from Greater Nevada Credit Union. Through a partnership with CU Direct, Greater Nevada has received exclusive rights to launch the region’s first AutoPREMIER auto buying service and has already signed on a variety of preferred-partner dealers.

Over the past year and a half, Greater Nevada Credit Union (GNCU), the area’s largest locally-based credit union, has seen more than 115% growth in its business lending portfolio. One of the credit union’s newest products, construction loans, is taking off just as rapidly, thanks to local businesses that want to expand, and the unique services offered by Greater Nevada to help them do it.

Michelle Hale has been named Greater Nevada Credit Union’s new Member Outreach Supervisor. She will oversee both community relations and member outreach.

Her community relations responsibilities will entail acting as liaison between Greater Nevada and the organizations it supports, including the University of Nevada Marching Band and Wolf Pack Athletics, Special Olympics Nevada, and the Truckee Meadows Habitat for Humanity. She will also coordinate Greater Nevada’s financial literacy efforts through local schools and other groups.

Carson City residents Ryan Doherty, Marcella Rico, and Maddison Saarem are three of 19 students recently awarded a $1,000 scholarship certificate from Greater Nevada Credit Union.

Ninety-three students throughout northern Nevada applied for the scholarship program, which GNCU has offered for the past 15 years. Doherty will be attending University of Redlands in California, Rico will be attending Western Nevada College, and Sareem will be attending University of Nevada, Reno.

Greater Nevada Credit Union presented Carson High School’s Parent Teacher Student Association with a $1,940 check toward the PTSA’s annual Safe Grad event.

Julie Slocum, PTSA Safe Grad Volunteer Coordinator and GNCU Educational Branch Coordinator, accepted the donation Thursday at the GNCU Educational Branch on the CHS campus.

Nevadans should monitor their credit and debit card statements for unauthorized transactions as Target continues to monitor a security breach that has exposed data from 40 million customers nationwide, said Nevada Attorney General Catherine Cortez Masto.

“Nevadans need to be vigilant and monitor their credit and debit card statements closely, especially Target shoppers who visited the store this holiday season,” said Masto.

When money is withdrawn from an IRA but is planned to be repaid to that IRA custodian or a new IRA custodian (so it is not taxable), it is required to be repaid within 60 days of receipt.

IRS Letter Ruling (PLR) is not supposed to be relied upon by other taxpayers, but it does give some information and guidance about what IRS will do.

Let’s call her Ann, withdrew funds from her IRA on Dec. 22, 2011. In January 2012, she contacted a financial institution asking how to roll over the distribution to an account there. They emailed her instructions on how to do the non taxable roll over.

As the leader of a Northern Nevada-based financial institution and its subsidiary mortgage company, industries rife with challenges the past several years, I finally went "Over the Edge." Significa...

Greater Nevada Credit Union held its 62nd Annual meeting on March 8, 2011 at their headquarters in Carson City. Members, Board members, management, and staff gathered to celebrate the past year’s achievements and recognize 80 individuals who reached 35 years of membership with Greater Nevada during the last year. Of those long-time members, 13 were present to personally accept their appreciation gifts.

During the meeting, two officers whose terms had ended were re-elected by general consent, and the new Board of Directors was announced:

• Chair, Robert Joiner

Carl Kuhl, a state Parole and Probation employee of six years, has created a plan that he claims will eliminate Nevada's budget deficit within two years.

In a news release issued on Tuesday, Kuhl said his plan not only will reduce the budget deficit but also help repair Nevada's economy at the same time. It is a pretty big claim, he admits, coming from an Accounting Assistant I, an entry level position.

Greater Nevada Credit Union’s scholarship program was recently named one of the “Five Best Scholarships for Nevada Residents” by NewsMax, a national news media organization.

Obtaining leases from three state agencies has been cited by the people pushing the Nugget Project as a critical piece to its success.

But, there's been more than a little skepticism that the State of Nevada, staring down the barrel of a $3 billion deficit in its next budget, has any appetite for spending money it doesn't have to.