LAS VEGAS — With balance sheets in good shape and key lenders having exited the market, credit unions have a unique opportunity now to take full advantage of loan opportunities, said Lee Butke, CEO of Corporate One FCU.

Addressing a session of the 31st annual National Directors' Convention winding up a week-long meeting here with a record 2,000 attendees, the Columbus, Ohio, CEO suggested that CUs start turning to new sources "other than deposits to take advantage of these opportunities" and that can include "your corporate or the FHLB," a reference to the Federal Home Loan Bank system, which recently has courted CU borrowings.

"Borrowing to help grow the balance sheet has not been a common practice, and I wanted to demonstrate some straight forward and practical ideas on how to effectively use borrowing to grow your organization and add value," said Butke. Borrowing not only can grow the CU "but can add additional earnings as it can provide a cost effective way to provide funds for your borrowers."

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.