MBL Cap Fight Will Continue CU Leaders Vow
To say the battle to increase the member business lending cap has been an arduous one for the credit union industry would be an understatement.
For at least eight years, proponents have stayed in the ring fighting to convince everyone that the member lending cap must be raised, and it must be lifted now.
Commercial Alliance recently reached a milestone when it surpassed servicing more than $150 million in business loans. Since its first loan in 2005, the CUSO said it has provided consistent support to its credit union members despite challenging market conditions. In 2010, it added four credit unions to its client roster–all were previously involved in business lending but were looking to revamp their programs.
"[The milestone] is also a positive indicator for the small businesses in our credit union communities as many do not realize lending is happening and do not know where to turn to grow their businesses," McHugh said.