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The shifting sands of the consumer lending marketplace have caused the traditional loans (auto loans, home equity loans, and mortgages) that credit unions know and trust to either become  scarce or thinly priced due to competition for each deal. Couple this with generally increasing costs, like regulatory compliance and provision expense, and credit unions will need to find other loan products to pursue. Member business lending should be one of the first loan product expansions considered.

Member business lending is not without its risks. However, if a credit union is prudent in its approach to this arena and takes the steps necessary to appropriately manage its costs and mitigate its risks, then it will create a win-win experience for both the business member and the organization’s bottom line. If the credit union falters on either expense control or risk management, the member business lending experience will not be as satisfactory as initially planned.

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