USDA removes Greater Nevada Credit Union from a rural development program – KOLO
- Department of Agriculture (USDA) has removed 10 lenders from the Rural Development Guaranteed Lender Program as part of a crackdown on delinquent loans and noncompliant lending practices.
- USDA Secretary Brooke Rollins stated that the administration has no tolerance for lenders who fail to comply with program standards.
- According to the USDA, the 10 lenders removed from the program held portfolios containing approximately $620 million in delinquent loans.
The U.S. Department of Agriculture (USDA) has removed 10 lenders from the Rural Development Guaranteed Lender Program as part of a crackdown on delinquent loans and noncompliant lending practices. The action, announced on May 12, 2026, targets institutions that the agency says have engaged in irresponsible lending within the federal program designed to support the growth of rural America through loans and grants.
USDA Secretary Brooke Rollins stated that the administration has no tolerance for lenders who fail to comply with program standards. The removal of these institutions is intended to protect taxpayer funds and ensure resources are directed toward projects that strengthen rural communities.
According to the USDA, the 10 lenders removed from the program held portfolios containing approximately $620 million in delinquent loans. This amount represents nearly 47% of all delinquent loans within the Rural Development program.
The removal includes Greater Nevada Credit Union (GNCU), one of seven lenders that participated in the program within the state of Nevada prior to the announcement. GNCU maintains offices in Reno, Sparks, Carson City, Dayton, Fernley, Minden, Ely, and Elko.
Data from the USDA Lender Dashboard indicates that Greater Nevada Credit Union had $165.9 million in loans that had been delinquent for more than 90 days. This figure represents one-third of the credit union’s total loans within the program and is the second highest delinquency amount among participating lenders.
The scale of the delinquency at Greater Nevada Credit Union stands in contrast to the broader program. The USDA reported that across all 760 lenders in the program, the average amount of delinquent loans is $2 million.
Secretary Rollins detailed the reasoning behind the ban on these institutions participating in USDA guaranteed lending programs:
“The Trump Administration has absolutely no tolerance for the irresponsible and noncompliant actions of these lenders and has banned them from participating in USDA guaranteed lending programs. I will continue to protect the American taxpayer and ensure their hard-earned dollars are spent where they belong — on projects that revive and strengthen rural America.”
Secretary Brooke Rollins
The lenders removed from the program are:
- Bank of Montgomery (BOM)
- Bank-Byline Bank
- Celtic Bank
- Community Bank & Trust – West Georgia
- Genisys Credit Union
- Greater Nevada Credit Union
- North Avenue Capital
- Optus Bank
- U.S. Eagle Federal Credit Union
- ReadyCap Commercial
Greater Nevada Credit Union responded to the USDA’s decision by stating that it disagrees with the characterization provided in the agency’s recent release, as well as the decision to revoke its status as an approved lender in the guaranteed commercial lending program.
The Rural Development Guaranteed Lender Program is part of the USDA’s broader effort to invest in rural prosperity through various loan, grant, and loan guarantee initiatives. These resources are intended to drive economic security and promote growth in rural areas across the United States.