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LAS VEGAS — As key lenders exit the market and balance sheets improve, credit unions have a unique opportunity to pursue new loan business, said Lee Butke, CEO of Corporate One FCU in Columbus, Ohio.

Addressing a session of the 31st annual National Directors Convention here, the Corporate One CEO suggested CUs in funding loans 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.”

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