LITTLE ROCK, Ark. — Hoping to spike new membership across the state, the Arkansas Credit Union League disclosed this week it is making plans to enter the indirect lending field through its own CUSO.

“Our hope is to have something up and running by Sept. 1,” said Becky Brosius, chairman of the league and president/CEO of Alcoa Community Credit Union of Benton.

A league task force has been assembled, she said, to come up with an operational plan and investment formula for participating CUs. The task force's mission was described in a presentation at a business session of the league's annual meeting held two weeks ago in Hot Springs.

The exact structure and financing of the proposed CUSO is yet to be determined, but league leadership is convinced Arkansas CUs need to be more closely linked to auto dealers to get more loan business while adding new members.

“Some other leagues are well along in this in maintaining partnerships or arrangements with dealers but for us this is all new,” said Reta Kahley, president/CEO of the league. “We're neophytes trying to find the best route.”

Yet to be decided is how investments will be made and whether a limited liability corporation or some other vehicle will be set up, she said. Head of the 10-member task force is Dee Edie, president/CEO of Diamond Lakes Federal Credit Union.