At CUNA’s Governmental Affairs Conference last week in Washington, dozens of CUSOs set out to make their presence felt and their voices heard.
Surrounding the chocolates, roses and love-filled greeting cards that made the rounds in Washington on Valentine’s Day, was an announcement from Rep. Ed Royce (R-Calif.) re-introducing a bill that would increase the member business lending cap from 12.25% of assets to 27.5%.
Participation loans also seen as way to boost business as member business lending cap hike reintroduced again in Congress.
In a move to avoid duplication of services and to establish a more equitable pricing structure, the California Credit Union League and CURoots Cooperative said they are in discussions to transfer the CUSO’s ownership to the California League Services Corp.
CURoots offers shared compliance, internal audit and health benefits services.
First Heritage Financial notches more than $452 million in loans closed.
COMPASS 4 CUs has picked up its 18th client, the $152 million NARFE Premier FCU of Alexandria, Va.
While it might have been a surprise to most in the member business lending world when word came that the seven-year-old Northeast CUSO would be shutting down, the timing actually could not have come at a better time.
After a year-long re-examination of its MBL operations, Northeast CUSO will close shop and distribute capital to its six credit union owners.
PSCU has made its call centers available for member credit unions to help members impacted by Hurricane Sandy.