KIRKWOOD, Mo. – Heartland Business Services, LLC, a multiple-owned CUSO formed five months ago to provide back-office support for credit unions offering member business loans, and now one of the new CUSO’s owners – Electro Savings CU – has made its first loan through the new service organization partnership. The $85 million, 15,000-member CU funded a $60,000 loan to small business owner Basile Landscaping and Lawncare, LLC. After providing small lawn care service for several years, the small business owner, a member of ESCU, decided he wanted to branch out into other services such as landscape design, installation and maintenance. According to the credit union, when the owner began shopping for financing to buy a new dump truck for his growing business, he was referred to Electro Savings CU where he eventually obtained the small business loan. Electro Savings CU President Stan Moekli said credit unions can fill an important role for small businesses. “Many banks, especially the larger banks, don’t want to take the time to service small companies. We do. We think there’s a tremendous need for credit union services in the small business community.” Heartland Business Services was formed in December 2005 by 18 Missouri credit unions, the Missouri Credit Union Association and Missouri Corporate CU.

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