California MBL CUSO Reaches $1.4 Billion Milestone
The San Bernardino, Calif.-based Member Business Services is celebrating a high point having reviewed $1.4 billion in member business loans since the CUSO launched in 2003.
MBS' loan growth of 25.6% was achieved by its core credit unions served for 2009, said Scott Burger, president/CEO. The CUs' MBL portfolios "performed well as compared to banking and credit union industry averages with business loan delinquencies of .76% reported at year-end 2009."
The CUSO serves 20 credit unions and is owned by Arrowhead Credit Union, SCE FCU, USA FCU, CoastHills FCU, USC FCU and the California and Nevada Credit Union League.