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PORTLAND, Maine — Credit unions here in the Pine Tree State looking to start or even bolster their mortgage and member business lending programs have another resource to turn to.

Primary Mortgage Corp., a CUSO owned by four Maine credit unions, has partnered with Northeast CUSO to underwrite, document and service small-business loans. Primary also serves a non-owned credit union. Northeast will act as the intermediary between Primary and its credit union clients, said Hunter King, president of Primary.

Northeast’s offers business lines, term loans and commercial real estate loans for member-owned businesses. The Keene, N.H.-based CUSO serves more than 70 branches between its 12 partners. Since its launch in June 2005, it has processed in excess of $325 million of small-business loans, according to Northeast. Total assets of all participating credit unions exceed $5 billion.

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