With the mission of sharing best practices in the business lending arena, 15 CUSOs have come together to form Regional CUSO Alliance to promote sound business loan participation activity in their local markets.
The new alliance represents 15 regional business lending CUSOs, 422 credit unions, 149 full-time employees and an aggregate loan portfolio of $2.2 billion. Together, the CUSOs represent
California, Colorado, Florida, Illinois, Iowa, Kansas, Kentucky, Michigan, Missouri, Nebraska, New England Area, New Jersey, New York, Ohio, Pennsylvania, North and South Carolina, South Dakota, Texas, Wisconsin and Wyoming.
The partnership aims to collaborate in business lending by leveraging local knowledge and shared expertise to promote sound lending practices to credit unions in the communities they serve, according to Regional CUSO Alliance.
The regional business lending CUSOs are:
Business Lending Group Inc.
Centennial Lending LLC
Community Business Lenders
Cooperative Business Services LLC
CU Business Solutions LLC
East Coast Business Lenders LLC
Heartland Business Services
Innovative Business Solutions LLC
Keystone Business Lending Solutions
Members Business Services
Michigan Business Connection LC
Northeast Member Business Services LLC
Spectrum Business Resources LLC
The Cypress Group LLC
"This new and unique initiative provides opportunity for all CUSOs within the Alliance to better serve their consortium of credit unions by utilizing a fresh approach to business lending," said Keith Reed, president/CEO of Cooperative Business Services.