Despite having a small percentage of business members, some credit unions believe they are now better positioned to grow their penetration in the small business market than they were prior to the start of the financial crisis a few years ago.
Aite Group says a new survey shows that about one-fifth of credit unions are better positioned now than a year ago to penetrate the small business space.
Twenty credit unions signed on as users of the two Symitar core processing systems in the second half of 2010, according to Jack Henry & Associates.
For more than nine years, Carter Federal Credit Union hummed along with its business lending program amassing $7 million in loans, relishing the fact that its portfolio never took any charge-off or delinquency hits.
User groups are an integral part of doing business for IT professionals who work with major core processing systems, at the company and credit union level alike.
Since its 2003 launch, the San Bernardino, Calif.-based Member Business Services said it has reviewed $1.4 billion in member business loans.
The San Bernardino, Calif.-based Member Business Services is celebrating a high point having reviewed $1.4 billion in member business loans since the CUSO launched in 2003.