The 500-member Regional CUSO Alliance will meet in May to exchange best practices and address industry challenges and opportunities.
At a time when credit unions were treading lightly, Telesis Community Credit Union was considered by some to be an early leader in the commercial lending space.
One of the inspirations behind creating a statewide lending brand that would be easily recognized by small business owners in Michigan evolved from conversations with local trade groups.
Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.
Signs that AEA Federal Credit Union was in trouble started well before its former executive was recently indicted for an alleged kickback ring with ties to a portfolio now crumbling under the weight of defaulted loans.
In the economy's heyday, when the flow of credit gushed abundantly to small businesses and lines of credit and leased new equipment were granted freely, some lenders seldom, if ever, asked for a personal guarantee. Then the recession hit.
Credit unions in Michigan looking to launch or jumpstart their stalled SBA lending programs are invited to attend two, free training sessions in July.
The proposed elimination of personal guarantees could potentially cripple underwriting and punish those credit unions that have not "excessively abused their privileges," a group of 15 member business lending CUSOs recently wrote.
Credit Union Times asked leaders of some of the industry's business lending CUSOs, "What will be the greatest challenge and opportunity for credit unions and their business lending programs in 2010?"