Volunteer Fire Departments Receive Loans from Local Credit Union

Rapid City, SD - Not all financial institutions would be willing to grant a large loan to an organization that is run by a group of volunteers. But Highmark Federal Credit Union knew that the work being done by local volunteer fire departments was absolutely critical for the safety of their community. 

The credit union granted a loan of $475,000 to the Whispering Pines Rural Fire Protection District. This is a volunteer fire department providing fire protection to approximately 1000 homes in Pennington County, South Dakota. The district currently has 20 volunteer fire fighters and is governed by a seven member board. Financing will be used for a new Fire Truck to serve their district.

But far from stopping there, the credit union also granted a $500,000 loan to the North Haines Volunteer Fire Department. This is a volunteer fire department providing fire protection to approximately 5500 homes in Pennington and Meade Counties in South Dakota. The district currently has 38 volunteer fire fighters and is governed by an eight member board. The loan will provide an expansion with two new garage bays as well as a “clean” room. The clean room will serve as a locker room for the volunteers' uniforms and protective gear.