A reduction in overhead expenses was the largest contributingfactor to Business Partners LLC being profitable for the firstthree months of 2013, the member business lending CUSO saidMonday.

According to officials, the organization analyzed multiple areasto cut costs.

“In many ways, Business Partners is redefining itself by getting back tobasics. We have a very strong capital position so we can reinvestin the business by making improvements in technology, while at thesame time making significant improvements to our balance sheet byreducing expenses,” said Dave Maus, president/CEO of the $1.2billion Public Service Credit Union in Denver and board chairman ofBusiness Partners in Chatsworth, Calif.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.