Lending

Identifying those credit unions with strategies to aid small businesses and take them into the future is the focus of a new, free CUNA Community Credit Union Committee white paper.

Business Partners LLC, a business lending CUSO, has created BP Connect, an online marketplace that connects financial institutions looking to purchase loans with those who are selling loans.

Member business loans continue to be among those outpacing other credit union lending categories despite nine consecutive months of overall loan portfolio contraction.

Signs that AEA Federal Credit Union was in trouble started well before its former executive was recently indicted for an alleged kickback ring with ties to a portfolio now crumbling under the weight of defaulted loans.

Turning to their local credit unions, military personnel are transitioning back into civilian life by starting up businesses such as chiropractic firms, franchise restaurants and even shoe stores.

Xetus Mortgage Corp. has named a new president/CEO and is expanding the functionality of its software-as-a-service loan origination and management platform, the Palo Alto, Calif., company said.