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News Now

CU System
Canadian CU reps in La. to discuss MBLs
HARAHAN, La. (10/20/11)--Representatives from Servus CU, the third largest credit union in Canada, met with Louisiana credit union representatives met last week at the Louisiana Credit Union League’s headquarters in Harahan to share their knowledge on member business lending (MBL). The league worked with the World Council of Credit Unions (WOCCU) to identify Servus CU as a credit union with a robust business services department that also was willing to assist Louisiana credit unions in their development of business services, said the Louisiana Credit Union League (eNews Oct. 19). Servus CU, located in Alberta, offers a full menu of business products and services, including deposit accounts, loans, cash management, card services and employee solutions. While growing its MBL services, Servus remained true to the credit union philosophy, with a strong focus on member service, said the league. Louisiana credit union professionals participated in a study trip to Servus CU earlier this year, and last week’s sessions were built on the knowledge gained during that trip. During the meetings, attendees learned about different aspects of business services, including products and services and human resource requirements. The sessions emphasized: establishing and adhering to a “risk tolerance” monitor and mitigate risk; commercial loans, including operating loans, term financing, professional practice financing, leasing, and syndications; and the importance of effective sales and service and ongoing training. The Credit Union National Association and credit unions are urging Congress to increase credit unions' MBL cap because doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create about 140,000 new jobs, with no cost to taxpayers, CUNA said.


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