SAN ANTONIO, Texas - Several Texas credit unions were recently profiled for their member business lending strides. Security Service FCU and Randolph-Brooks FCU's MBL programs were parts of a bigger story in the July 22 San Antonio Business Journal on competing with community banks. The $3.8 billion SSFCU has 17 business loans contributing to its $10 million total business loan portfolio. A SBA lender since 2003, the CU says it's the largest of that kind in the state. "We may be the biggest, but it's a small grain of sand in the great desert," John Worthington, SSFCU senior vice president told the publication. The $2.3 billion RBFCU was also mentioned for its $45 million business lending program. "Our goal is not to make $10 million loans," said Robert Zurfoss, senior vice president of mortgage lending. "We're making the small-business arena a focus for our membership." The CU industry's argument is that banks shy away from loans smaller than $100,000 and prefer large loans of $250,000 and up, the publication said, adding some local banks, like many others, are crying foul. At least two area banks, Lonestar Capital Bank and Jefferson State Bank, said half of their business loans fall between $50,000 and $150,000.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the top of any article.
From the August-03, 2005 issue of Credit Union Times Magazine • Subscribe!
More Texas CUs in Spotlight for Business Lending Strides
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
Comments
- The 4 Major Designs of the $100 Bill (Slide Show)
- Anonymous May 7 Target List Includes 12 Large Credit Unions
- Theresa Portillo Sentenced to 6½ Years in Prison for Looting Feminist CU
- WesCorp’s Legacy Losses Outpace Other Corporates
- Stacie Wyss-Schoenborn Seeks Innovation One Step at a Time: Women to Watch
Resource Center
View All »
Measure and Monitor the Risks and Opportunities in Loan Portfolios
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
