Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperative’s roughly $4 million stake in Autoland Inc., an auto buying CUSO.
The NCUA has been working behind the scenes to divest the former Telesis Community Credit Union's roughly $4 million stake in Autoland.
The new interim president of Business Partners LLC said the business lending CUSO is on track to continue growing this year.
Profitable for eighth consecutive year, with new interim president in place.
For some credit unions, being able to get in a car and drive to a piece of commercial real estate that a member is trying to secure financing for is a pivotal part of the lending process. Scoping out the area where that strip mall or office building is located...
Since at least 2010, Telesis Community Credit Union’s member business loan program has been in a downward spiral.
Business Partners LLC, the CUSO founded by Telesis Community Credit Union in the early 1990s, will continue originating and servicing loans, the NCUA said Monday.
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.
Several of Telesis Community Credit Union member business loan categories have been in a free-fall since at least 2010.
An online marketplace that connects financial institutions looking to purchase loans with those who are selling loans is the premise behind BP Connect, a new venture from Business Partners LLC, a business lending CUSO.