CU Business Group Seeks Route to Sustained Growth
PORTLAND, Ore. — During a recent afternoon session on working with government agency loan programs, as two speakers acknowledged that there can be a corn maze of forms, deadlines and updates, someone in the back of the room felt compelled to interrupt.
“Your SBA updates are better than those on the SBA website,” said a woman attending the session during the CU Business Group LLC’s National Business Services Conference last week in Portland.
Middleman said while banks were making more construction loans in 2008, their charge-offs had leveled off as of March 2011. Credit unions were not doing nearly as many construction loans as banks, their charge-offs tended to be high–but not as high as banks–during the same time period.
“Credit unions tend to want to believe that the market will come back. They’re slow to call it what it is,” Middleman said referring to loans that may be showing signs of trouble.