X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO – Nearly a dozen member business lending CUSOs and credit unions will meet this week to hear and discuss the findings from an anticipated business underwriting survey. The four-month old MEMBERS Business Solutions Co., LLC (MBSC), established by MEMBERS Development Co., LLC, a CU/CUNA Mutual Group jointly owned research firm to facilitate a secondary market for CU MBLs, will host a roundtable in Chicago on Nov. 5. MBSC conducted a survey of the marketplace to understand the underwriting practices of commercial loans, said Jack Young, vice president of corporate development for CUNA Mutual. The meeting will also cover underwriting practices for MBLs, commercial real estate loans and loan servicing standards, Young said. Among the MBL CUSOs planning to attend are The Cypress Group, LLC; Michigan Business Connection; and Member Business Solutions, the CUSO for Southeast Corporate CU. Credit unions include SELCO Community CU, Royal CU, Purdue Employee FCU, and Coastal and Farm Bureau Family CU. Some of the CUs are considering forming MBL CUSOs, Young said. CUNA, which also has a lending advisory group, will also attend. This is the second time the group has met this year. In April, CUNA hosted a similar meeting in San Diego. Young said MBSC’s future plans will also be discussed. MBSC was formed over the summer to promote best practices in business loan underwriting and provide additional liquidity and risk management alternatives. The new firm acquired CU BizSource, a small business lending company, launched in early 2003 by the Pennsylvania Credit Union Association (PCUA), to jumpstart its MBL business. The creation of MBSC is yet another recent research and development initiative undertaken by MEMBERS Development. In May 2004, the company announced a customer relationship management program with Inforte Corp., and Onyx Software and, in 2003, launched MEMBERS Trust Co., which is now providing trust services to 26 credit unions in six states. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.