USDA removed 10 lenders from its OneRD Guaranteed Lending Program on May 12, 2026. Three were credit unions: US Eagle Federal Credit Union in Albuquerque, Greater Nevada Credit Union in Carson City, and Genisys Credit Union in Auburn Hills, Michigan.

According to USDA's announcement, the removed lenders' portfolios contained approximately $620 million in delinquent loans, about 47% of Rural Development's total delinquent loans. USDA said more than 750 lenders remained in the program.

The other seven lenders named were Bank of Montgomery, Byline Bank, Celtic Bank, Community Bank & Trust — West Georgia, North Avenue Capital, Optus Bank, and ReadyCap Commercial. Secretary Brooke Rollins attributed the removals to irresponsible and noncompliant lender conduct.

The local angle: US Eagle

US Eagle reported approximately $1.48 billion in assets and 98,947 members as of March 31, 2026. Its NCUA branch filing listed ten member-service branches across Albuquerque, Bernalillo, Farmington, and Santa Fe, excluding a corporate office marked as not providing member services.

The credit union reported a $3.35 million net loss for the first quarter of 2026. That loss was about 2.7% of its approximately $124 million in net worth at year-end 2025. The comparison uses the reported loss of $3,351,551 and year-end net worth of $123,792,576. These are institution-wide figures; they do not establish how much of the loss came from OneRD loans.

The figures come from NCUA's March 2026 call-report files and December 2025 call-report files.

What revocation changes

OneRD established a common framework for USDA's Business & Industry, Community Facilities, Rural Energy for America, and Water & Waste Disposal loan-guarantee programs.

USDA's announcement barred the ten lenders from further program participation. That action does not, by itself, cancel guarantees already issued. The agency's lender agreement expressly preserves the status of existing guarantees when the agreement is revoked. Each loan guarantee remains subject to its own terms.

USDA also states that a lender losing approved status must continue servicing outstanding guaranteed loans under the applicable agreement and regulations. Losing access to new guarantees does not eliminate those responsibilities.

Related local coverage: Albuquerque Journal. This corrected version uses the primary records linked above for its financial and program claims.