Jack Pollihan Named First President of Heartland Business Services
ST. LOUIS - Heartland Business Services, LLC has hired Jack Pollihan as its first president. The CUSO, scheduled to open in September 2005, will provide back-office support services for credit unions that want to offer member business loans. Eighteen Missouri CUs, along with the Missouri Credit Union Association and Missouri Corporate Credit Union, formed Heartland Business Services after months of research that determined a need in the small business market. Pollihan most recently served as vice president of Commercial Lending for the Bank of Edwardsville, where he developed and managed a commercial loan portfolio of $22 million. "I'm very excited about the opportunity to join Heartland Business Services and look forward to working with Missouri's credit unions," says Pollihan. "I think business lending services will be a great asset for credit unions to offer their members." Eleven percent of Missouri's credit unions offer member business loans with credit unions representing 0.04% of the market share statewide.