LITTLE ROCK, Ark. — After nearly a year on the drawing board, ARCUSO, LLC, the new indirect lending CUSO of the Arkansas Credit Union League aimed at attracting new business and members for small CUs opened for business last week.
"I like the numbers I'm seeing already," said the chairman of ARCUSO, Allen Brown, who also is president of the $65 million Mil-Way FCU, Texarkana, in assessing the early 65-loan dealer response since Friday's grand opening of the CUSO.
Among CUSOs, ARCUSO is unusual as a co-op investment venture since it is specifically targeted toward raising the auto lending profile for small CUs, which in some areas are unable to take advantage of the market because of their size.
Recommended For You
Serving as president/CEO of the CUSO with offices is Mike Anderson, a former Ford Motor Credit loan officer hired last September. There are currently 32 CU participants in ARCUSO.
"We think the potential is great and we are projecting that in three years we will be able to do $25 million in auto loans and in addition we also will be doing motorcycles, RVs, and boats," said Anderson.
Brown said ARCUSO will be competitive with banks and the captives offering a 5.7% rate on A Plus, 60 month paper with an introductory 0.25% discount for 60 days.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
