Tapping existing small business owner members for loans is a winning strategy for some CUs.
Credit unions grow their business lending portfolios in a recovering economy, and despite the MBL cap.
The $209 million California credit union cites limits on business lending as its reason to leave the credit union fold.
Minnesota credit union uses CUSO program to expedite member's launch of trucking enterprise.
A Sept. 11, 2013, story in Credit Union Times (Small Business Owners’ Plea to Credit Unions: Earn My Business) reported on a focus group of small business owners, who generally concluded that credit unions are having a hard time serving their needs compared to banks.
Canadian firm paid $1.2 billion for Harland Financial Solutions, including the UltraData core processing platform.
Michigan credit union adds to commercial lending services it launched in April.
Harland Clarke sells UltraData, LaserPro and MortgageBot, among others, to Canadian company for $1.2 billion.
Credit unions can enlist their members in the payments revolution. A new service from Fiserv, called SpotPay, along with similar services such as Square are expanding the universe of payments that can be settled on credit or debit cards.
As the latest round of quantitative easing (QE3) commences, this significant government investment will present many lending opportunities for credit unions. QE3 will drive investment in private businesses, boosting corporate profits, which will enable companies to finance expansion projects and invest in value-added business services, like consulting and leasing companies.