CU Business Group LLC gets first CU partner
PORTLAND, Oregon - CU Business Group LLC - a CUSO started by Northwest Corporate (and now also includes FirstCorp) to help CUs serve business accounts and make business loans - has signed its first credit union business partner in Cutting Edge FCU. "Even though we are not a large credit union, our members still have significant financial needs for their small businesses," said Liz Schilling, President/CEO of the $24 million Cutting Edge FCU. "In fact, I have three different deals pending right now that we will be working on with CU Business Group." CU Business Group supports a complete line of business lending products, including lines of credit, term and real estate secured loans, and business credit cards. Business deposit products are available, such as merchant bankcard processing, ACH origination and electronic tax payments. CU Business Group will also consult with credit unions to help with planning, pricing, and implementation of a business services program. CU Business Group President Larry Middleman said Cutting Edge FCU will not take an equity stake in the CUSO.