CU Business Group Hits $50 Million Mark

ALBANY, N.Y. – CU Business Group, a business services CUSO co-owned by three corporate credit unions -Empire Corporate, FirstCorp, and Northwest Corporate – said that in less than one year of opening it has hit the $50 million mark in business loans processed. “Loan packages are much larger than we anticipated,” said Larry Middleman, President/CEO, CU Business Group. “Credit unions are doing an excellent job of tapping into the pent-up demand from businesses in their markets. Loans are averaging well over $600,000 as businesses are quick to embrace their credit union as a full financial services provider,” Middleman said. In other news, the CUSO has added Mike Mucilli as its new VP, Senior Business Services Officer. Mucilli is responsible for consulting with credit unions in the Eastern United States, assisting them with all aspects of business services planning, program development, pricing, loan origination and education. He has 26 years of commercial lending experience, including SBA experience.