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LINTHICUM, Md. and MIRAMAR, Fla. – Member of State Employees Credit Union of Maryland will soon see an expanded business services program thanks to a new alliance. The $1.5 billion CU has become an equity partner of CU Business Capital, LLC. Through the partnership, the CU will co-design and implement programs to include business loans and leases, business deposit products, cash management services, business credit and debit cards and merchant services. SECU will also become a Tier 1 equity partner of CUBC entitling it to a seat on the CUSO’s board helping direct the long-term growth strategy of the CUSO, according to Bert Bryan, president, CUBC. “In our search, there was only one CUSO that provided business deposits, cash management and business lending programs as a full suite, and that was CUBC,” said Rodney Staatz, SECU president/CEO. “SECU needed a complete business services program that would complement our existing retail programs and enhance SECU’s ability to increase products per member.” Bryan said SECU “has an impressive history of growth and creativity” and the partnership will place it in a unique position for more growth in Maryland. CUBC was launched last July by $2 billion Eastern Financial Florida Credit Union. That same month, it partnered with Boca Raton, Fla.-based Biz Lending Center to bring commercial lease and equipment finance programs to CUs.

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