The $1.2 billion Numerica Credit Union in Spokane, Wash., is now using an automated software program to help jump into commercial and industrial lending, an area of untapped potential for many credit unions, the credit union said.
Healthy growth in its asset-based commercial lending has encouraged Numerica to branch into these more service-intensive loans, said Alan Woodruff, the 94,000-member credit union's business services relationship officer.
Numerica actively pursued asset-based commercial loan customers in 2012, Woodruff said. "We actually doubled our goal of adding $35 million, to $70 million in new business," he said.
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