NEW ORLEANS — The responses to the pluses and minuses of starting and maintaining a successful business lending program were as varied as their approaches during a spirited roundtable held today during NACUSO's Business Services Collaborative.
Keith Reed, president/COO of Cooperative Business Services, LLC, served as facilitator and one of three industry experts who spoke on best practices, credit union training and small business lending and pricing. Kent Moon, president/CEO of Member Business Lending, LLC, sought feedback from attendees on how they perceive the small business market, which to some, still remains an "enigma."
"It is a credit union market and we need to capture it," Moon said, adding to do so could mean bringing in more share deposits, loans, profitability and return on assets.
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Bill Beardsley, president/chief lending officer of Michigan Business Connection, LLC, asked attendees how loans are priced and what factors drive their pricing structure. Of the roughly 60 people in the room, most said they were pricing the loans based on risk not on a relationship. Others said they use a matrix, offer a range of rates and use the opportunity to educate the borrower on loan to value.
Reed asked attendees about their training methods. A handful are offering extensive programs with some centering their models on feedback from NCUA exams.
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