Tim Boellner Elected Chairman of Cooperative Business Services

DUBLIN, Ohio - Tim Boellner, CEO of AurGroup Financial Credit Union, is the newly-elected chairman of Cooperative Business Services, a member business lending credit union service organization owned by the Ohio Credit Union League subsidiary, OCUL Services Corp. and eight Ohio credit unions. "Tim is a visionary person who will provide tremendous leadership and support to both current and future initiatives of the company," said Keith Reed, CBS president/COO. Reed praised outgoing chairman Doug Fecher, CEO of Wright-Patt Credit Union, thanking him for "the leadership he has provided on behalf of CBS and on behalf of all credit unions in Ohio who have an interest in business lending." So far, 21 Ohio credit unions with assets totaling $3.4 billion have taken advantage of the CUSO as an opportunity to originate 85 member business loans worth $40 million, according to CBS, which is also establishing an internal U.S. Small Business Administration lending platform. An SBA Express loan for $75,000 was recently granted to Day Air Credit Union, and a SBA 7(a) loan for $179,000 and a 504 loan for $345,000 to River Valley Credit Union. Chaco Credit Union, CODE Credit Union, Members First Credit Union and Wright-Patt Credit Union are also approved to participate in the 7(a) program and CBS is in the process of assisting with signing on four additional credit unions. Boellner joins other CBS Board Members Bill Burke, CEO of Day Air Credit Union, vice chairman; Jim Schultheiss, CEO of Chaco Credit Union, treasurer; and John Bowen, CEO of River Valley Credit Union, secretary. -msamaad@cutimes.com