I've personally never met a group of people more prone to gossip than cab drivers. Furthermore, few of their rumors turn out to be true. So, when some taxi drivers at the California Public Utilities Commission (CPUC) hearing yesterday claimed that the San Francisco Federal Credit Union (SFFCU) was no longer loaning money to drivers to purchase medallions, I was doubtful.
Carl McMacmurdo, the President of the Medallion Holders Association, who was also at the CPUC meeting, shared my skepticism. We decided to walk a couple of blocks over to the credit union and talk about the subject to Senior Vice President & Chief Lending Officer Rebecca Lytle.
Miss Lytle was on vacation but her Executive Assistant of Lending, Hanh K Ha was gracious enough to speak with us.
She wishes to issue this statement.
“San Francisco Federal Credit Union is making taxi
medallion loans. Since the program started 5 years ago, we have never
stopped taking applications or making loans to drivers who want to
purchase a taxi medallion. “
