WASHINGTON – With business loans outstanding growing 37.3% to $14.1 billion in 2004, a number of business lending CUSOs have formed to keep up with the demand. Callahan & Associates, Inc. will host a Webinar on business lending CUSOs at 2:00 EST on Sept. 8. The Webinar’s focus will include the feasibility of business lending through a CUSO; different approaches to structure the CUSO; and best practices for each type. This event will cater to credit unions of all sizes, according to Callahan. The featured presenters are Fred Healey, president/CEO of $500 million Workers CU, which is a co-owner of Northeast Member Business Services; Dan Hutchison, vice president of business services at $1.1 billion Redwood CU; Larry Middleman, CEO,CU Business Group; Carla Altepeter, president/CEO of $266 million Citizens First CU; and David Coggins, CEO, Business Lending Group. Industry experts say CUs are linking up to form business lending CUSOs to defuse start-up costs; spread the risk among multiple institutions; avoid the federal cap through loan participations; alleviate staffing concerns; and have access to underwriting and due diligence best practices.

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