When it comes to serving the needs of busy small business owners, some credit unions are having a hard time keeping up with their bank competitors in key areas.
CUSO focus group participant says business banking with credit unions might project small image.
CUBG's Larry Middleman says, "This has been one of the most amazing 10-year cycles in history."
CU Business Group has partnered with Financial Tools Inc. to help credit unions bolster their business lending programs.
For some credit unions and CUSOs, the newly approved changes to the loan participation rule are apt to leave a bittersweet residue within their business loan portfolios.
Larry Middleman, president/CEO of CU Business Group LLC, said the new participation rule addresses lead lender risk.
To offer a suite of human resources and payroll products and services to their credit union business members, CU Business Group LLC has partnered with Paychex Inc. to make it happen.
The organizations teamed up in an effort to help credit unions become a one-stop shop for business members, CUBG said.
Depending on who you talk to, the credit union business lending landscape could easily be a mix of record loan growth peppered with a drop in delinquent debt to an environment that is thriving better than what bank competitors are experiencing.
While it’s been a little over a year since Telesis Community Credit Union went under conservatorship, credit unions may find there are still more lessons to learn from the cooperative’s collapse.