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IRONDALE, Ala. – Add Corporate Financial Solutions, Inc. to the list of CUSOs formed to assist credit unions with members business lending and services programs. Corporate America Credit Union launched Corporate Financial Solutions this month to bring a comprehensive small business management solution to Alabama credit unions. Services includes business loan underwriting and monitoring as well as facilitation of loan participations. The CUSO has also partnered with Small Business Solutions, Inc., a CU business lending firm, to provide credit analysis, underwriting, documentation, servicing, and training. “Both services allow a credit union to provide support to their business members, while diffusing the credit union’s own risk,” said Thomas Bonds, president/CEO of Corporate Financial Solutions. Additional services offered to credit union business members include facilitation of business plan development, payroll processing and payroll taxes services, auditing, accounting and tax referrals, legal referrals, and merchant processing. The CUSO plans to become a SBA-approved lender at a later date, Bonds said. Three employees with a combined 20 years commercial lending experience who will serve the state’s credit unions, are employed by Small Business Solutions, which is 49% owned by Corporate Financial Solutions. Bonds said he hopes “credit unions will rely on our services rather than expending the money for additional staff they may only infrequently utilize.” While the CUSO is only weeks old, it has already partnered with one credit union. “Specifically, for credit unions without a seasoned business loan officer, this avenue offers the opportunity to fully serve their small business members without being obligated to purchase a corresponding, bundled service they may not need.”

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