For credit unions, part of the growth is coming from small and mid-sized credit unions entering or expanding their participation in commercial lending. Some recent examples include:

Sharonview Federal Credit Union, Indian Land, S.C. ($1.6 billion in assets, 94,527 members) closed this month on the purchase of two bank branches on South Carolina's coast. The branches on Hilton Head Island and nearby Bluffton have some business members, providing a boost to Sharonview as it enters the business market. It plans to expand business services to other markets in the Carolinas later this spring.
University Credit Union, Los Angeles, ($872.6 million in assets, 41,969 members) created a commercial lending department and hired Scott Miller, with more than 30 years commercial lending experience, as its AVP of member business solutions in late 2019. While much of 2020's energy was redirected to helping members apply for Paycheck Protection Program loans, it still was able to double its commercial real estate portfolio, ending the year with $35.6 million. This year the credit union expects to produce $60 million in commercial loans.
Truliant Federal Credit Union, Winston-Salem, N.C. ($3.3 billion in assets, 270,834 members) announced this month that it has named Steve Koelsch to the newly created role of SVP of commercial lending. Koelsch has more than 20 years of business-banking experience, as Winston-Salem market president for Memphis-based First Horizon Bank ($83.9 billion in assets).

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