As credit unions continue the battle to get the member business lending cap increased, some CUSOs said they are in it for the long haul.
Business lending CUSO CU Business Group LLC peeled back the layers on NCUA data to show the MBL cap's impact. According to analysis of NCUA 5300 statistics by the Portland, Ore.-based CUSO, there were 208 credit unions within 3% of the 12.25% cap as of Dec. 31, 2010. A total of 375 credit unions were halfway to the cap, with MBLs at 6% or more of assets.
CUBG President/CEO Larry Middleman said he knows of many other credit unions below 6% in MBLs that intentionally moderate their MBL growth for purposes of managing to the cap.
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