NEW YORK -- Newtek Business Services, Inc., a provider of business services and financial products to the small- and medium-sized business market, marked a milestone last month when it signed its 200th credit union strategic alliance partner.
The $161 million Cornerstone Community Financial FCU is the latest alliance.
"While we are proud of the continued growth of our credit union base, it represents only a small share of the market, creating significant opportunity for us to increase the overall number of Newtek credit union partners," said Barry Sloane, chairman/CEO of Newtek.
Sloane said Newtek's credit union alliances represent in excess of 8,500 credit union members. In addition to other financial institutions, Newtek also has partnerships with CUNA and PSCU Financial Services.