Majority of business members now start online as onboarding times drop from days to minutes

RIVERDALE, Utah (Nov. 21, 2025) — America First Credit Union (AFCU) today announced strong early results from its new digital business account platform, which lets small business owners open and fund accounts in minutes instead of days.

Developed in partnership with Loquat, Inc., the platform simplifies how entrepreneurs and local organizations begin banking with America First. Applicants can now complete the process entirely online, through the AFCU mobile app, or at any of the credit union’s 116 branches across six states. Within the first month, online business banking applications increased by 400 percent.

“Our business members have told us they need tools that move as quickly as they do,” said Kimberli Green, vice president of Business Services at America First Credit Union. “This new experience gives them flexibility to start and finish their account setup wherever they are — on a phone, a laptop, or in-branch — without sacrificing the personal service that sets us apart.”

Early feedback from both members and employees has been overwhelmingly positive, citing faster approvals, easier document uploads, and improved transparency throughout the process. Some applicants have completed the entire process in as little as five minutes.

“Something that used to take days can now be done in under five minutes,” one AFCU business services employee said of the new application process. Members agreed, with one saying, “The online app was the easiest I’ve ever filled out.”

The digital expansion supports AFCU’s broader commitment to helping small businesses access financial services that save time and increase convenience. The platform supports a variety of business types, including sole proprietorships, LLCs, partnerships, and nonprofits, and integrates advanced verification tools for secure onboarding.

“Our collaboration with America First Credit Union shows how smart technology can simplify even the most complex banking workflows,” said Zarina Tsomaeva, CEO at Loquat. “By combining intuitive design with advanced verification tools, we are helping business owners get up and running faster and with greater confidence—removing the slow manual processes that have held the industry back. We are grateful for our partnership with America First and look forward to supporting their efforts in bringing efficient automated services to their business members.”

America First Credit Union provides business members with digital tools, lending solutions, and personalized service designed to simplify operations and support long-term growth. The digital expansion reflects the credit union’s commitment to helping businesses access financial services that save time and increase convenience. The platform supports a variety of business sizes and structures — such as sole proprietorships, LLCs, partnerships and corporations — and integrates verification tools for secure onboarding. Business owners can learn more online.

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About America First Credit Union

Now in its 86th year, America First Credit Union has grown from a single branch serving military personnel and federal employees into one of the strongest and most progressive credit unions in the country. The credit union is the largest in Utah and has 116 locations across Arizona, California, Idaho, Nevada, New Mexico and Utah. It is also the fifth largest credit union in America with more than 1.5 million members, and the sixth largest in assets with more than $23 billion. America First Credit Union is a member-owned, not-for-profit cooperative dedicated to building communities and helping members do more with their money. Learn more at americafirst.com.

About Loquat

Loquat Inc. is a fintech innovator enabling banks and credit unions to offer smart consumer and business banking solutions to their customers and members. The platform provides seamless KYC/KYB, fast onboarding; virtual cards; automated lending; an integrated portal for fraud detection, compliance monitoring, workflows, and analytics (CALM); a proprietary Loquat IQ AI solution utilizing FI data for strategic insights with interactive chat and continuous learning to enhance performance.

To learn more about Loquat, visit: www.loquatinc.io

Media Contact:
Dave Nellis
America First Credit Union
801.827.8606
dcnellis@americafirst.com

Funding supports 18 partners across six states as shutdown impacts linger and families wait for restored SNAP benefits.

RIVERDALE, Utah (Nov. 19, 2025) — America First Credit Union (AFCU) is committing $1 million in emergency charitable funding to food banks and community partners responding to unprecedented demand following the federal shutdown.

The support will help organizations across the states the credit union serves address immediate food needs as families wait for furlough back pay and delayed SNAP benefits.

Food pantries throughout Utah and neighboring states have reported record lines, depleted shelves and a surge in first-time visitors — including thousands of federal employees who missed multiple paychecks during the shutdown.

“The shutdown has passed but the need has not,” said Thayne Shaffer, president and CEO of America First Credit Union. “Responding to community challenges is central to who we are as an organization. We’re moving rapidly to answer those needs and especially to support the military servicemembers and public servants who have been with us since America First was founded.”

In addition to food assistance, the credit union has provided more than $2 million in zero-upfront-interest furlough loans to federal employees since October.

The $1 million in food assistance will be distributed to long-standing partner food banks and other organizations across the Southwest. In Utah, support will go to Cathedral of the Madeleine Good Samaritan Program, Catholic Community Services of Utah, The Christmas Box International, For The Kids, Lantern House, The Road Home, The Society of St. Vincent de Paul, Tabitha’s Way Local Food Pantry, Utah Food Bank and YCC of Northern Utah.

In Arizona, funding will be provided to Crisis Child Center of Arizona and United Food Bank. In Nevada, support will go to Food Bank of Northern Nevada, Three Square Food Bank and Safe Nest. Additional recipients include Roadrunner Food Bank in New Mexico, the Idaho Food Bank and the Community Action Partnership of San Bernardino County in California.

Numerous hunger-relief organizations have indicated that recovery will take time as federal and state employees work through backlogs and households recover from weeks without income.

“Families will start seeing paychecks and benefits again soon, but the financial strain won’t disappear overnight,” said Amber Greenwell, director of the America First Charitable Foundation. “Food banks and those they serve will continue feeling the pressure for months. We want to make sure they have the resources they need to help people get back on their feet.”

This rapid-response funding aligns with AFCU’s long-standing commitment to supporting community stability. Through its charitable foundation, the credit union partners with hundreds of nonprofits that provide food, housing, crisis support and essential services to members and their communities across the Southwest.

AFCU has already delivered funds to most of these recipient organizations, and will continue to do so in the coming days.

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About America First Credit Union

Now in its 86th year, America First Credit Union has grown from a single branch serving military personnel and federal employees into one of the strongest and most progressive credit unions in the country. The credit union is the largest in Utah and has 116 locations across Arizona, California, Idaho, Nevada, New Mexico and Utah. It is also the fifth largest credit union in America with more than 1.5 million members, and the sixth largest in assets with more than $23 billion. America First Credit Union is a member-owned, not-for-profit cooperative dedicated to building communities and helping members do more with their money. Learn more at americafirst.com.

Media Contact:

Dave Nellis
America First Credit Union
801.827.8606
dcnellis@americafirst.com