HARRISBURG, Pa. — A little over two months since its debut, the Pennsylvania Credit Union Association's business loan exchange, Credit Union Loan Trader, is off to a strong start.
The association said four member business loans totaling $411,643 were transacted through Credit Union Loan Trader, which lists loans available for purchase by industry type, type and location of collateral, and other factors, according to the association. Buyers may shop for participation loans fitting their own lending criteria.
The exchange took place between $152 million AmeriChoice Federal Credit Union, which listed the loans, and were bought by the $57 million SPE FCU. With yields ranging from 6.10% to 7.10%, the loans were secured by real estate, according to PCUA.
Recommended For You
The association is in the process of securing a trademark for the service. A free tutorial of Credit Union Loan Trader is available on PCUA's Web site www.pcua.coop.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
