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.
While the degree of optimism varies, a sampling of perspectives from business lending CUSOs suggests an economic upturn may be underway.
In a new partnership, Northeast CUSO will provide SBA processing and servicing support to Texas Advantage Commercial Lenders, the business lending CUSO of Texas Trust Credit Union.
Whether they call the pristine greenery of the Pacific Northwest or the rolling hills of New England home, many credit unions share a common approach when it comes to business lending: