Four Credit Unions Join Business Partners Equity Alliance
CHATSWORTH, Calif. -- Add four more credit unions to Business Partners, LLC's list of equity holders.
The business lending CUSO recently added Farmers Insurance Group Federal Credit Union, Tulsa Federal Employees CU, Spectrum FCU and Universal 1 FCU.
"With the acquisition of more equity partners, Business Partners continues to realize its founding vision of becoming the premier cooperative MBL CUSO nationwide," said Grace Mayo, BPLLC chairperson and president/CEO of Telesis Community CU. "The new equity ownership will also provide a greater platform to support a stronger national and regional structure of [member business loans]."
Founded by Telesis, Business Partners specializes in providing credit unions nationwide with business real estate and small business lending services including loan participation, underwriting, servicing and quality control.
The CUSO's latest equity partners join its original owners Telesis, Community One FCU, Public Service CU, USA CU, Sierra Point CU, Travis CU, Hawaii Community FCU, T & C FCU, California Bear CU, Altura CU, Great Lakes CU and WesCorp.
Jean Faenza, president/CEO of BPLLC, said business lending could give credit unions a competitive edge.