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.
The hot must-have technology in banking today has to be mobile remote-deposit capture, software that lets members take a photo of a check with a smartphone camera and, presto, it’s deposited into their account.
The founders of these five newbies have made it past that initial nerve-wracking period and are now watching their babies slowly grow.