HARRISBURG, Pa. — The Pennsylvania Credit Union Association is aiming to connect buyers and sellers of member business loan participations through its new creation, Loan Trader.

Loan Trader lists loans available for purchase by industry type, type and location of collateral, and other critical factors, according to the association. Buyers may shop for participation loans fitting their own lending criteria. The exchange is only available to league-member credit unions and business services CUSOs that operate in the Mid-Atlantic region.

The association issued a reminder that NCUA requires that credit unions considering buying any loan participation perform their own due diligence, and reanalyze the credit as if they were originating the loan. At the request of any potential buyer, sellers can release the data necessary for completion of this independent analysis.

A free tutorial on Loan Trader is available at www.pcua.coop. Access to the site is also available for an annual subscription fee. The service is offered through Business Advisory Services, a subsidiary of the Pennsylvania CU Association.