The first loan participation Pen Air Federal Credit Union was involved in teamed the cooperative up with a regional bank.
It was a big deal within the industry because it was one of the first times that a credit union partnered with a bank on a participation transaction, said Tom Furr, assistant vice president of lending, at the $1.2 billion Pen Air FCU in Pensacola, Fla.
That bank was later taken over by another bank and the acquisition ended the relationship, Furr recalled. The commercial real estate landscape has changed since the landmark deal as large banks have ramped up their efforts to outdo their local rivals.
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
Already have an account? Sign In Now
© 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.
