CUSOs Form Alliance to Expand Participations
Founded in 1998 by eight Houston credit unions, CUAC provides indirect financing in the auto lending market. The CUSO serves more than 58 credit unions with more than 1.2 million members in six states. The Miramar, Fla.-based CU Business Capital offers a suite of business lending, business deposit and cash management services.
Adrian Dominguez, CEO of CUAC, said the new partnership will create opportunities for CUs to expand their investment into business loan participations. The alliance aims to also help build national interest among small business owners to consider credit unions for their financial needs, said Murray Halperin, senior vice president of institutional sales at CUBC.