Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
New small business CUSO reaches profitability
TALLAHASSEE, Fla. (1/4/08)--Member Business Solutions (MBS), a credit union service organization owned by Southeast Corporate FCU and Georgia Central CU, announced that it has underwritten more than $350 million in credit union small business loans in its first three years. “The best loans for credit unions tend to be for $500,000 or less, not multi-million dollar development loans,” said Jim Gallagher, MBS president. “We’ve encouraged our credit union partners to focus on small-business members, rather than looking elsewhere to make bigger loans.” Small businesses continue to thrive, according to an Aite Group survey. About 69% of large banks surveyed said they consider small businesses important to their success, and 80% of community bankers have placed a stronger emphasis on small businesses than they did three years ago. “Credit unions have the edge if they stick to what has made them unique all long--lending to people they know,” Gallagher said. MBS serves 45 credit union partners in 12 states.
Other Resources

RSS print
News Now LiveWire
HFSC Chairman @RepHensarling announces subcommittee chairs for #114th Congress: http://t.co/FGnvnogI7n
41 minutes ago
Don't Mullet Over: Check out @ECCU1's meme-rable campaign that brought in $8M in loans #NewsNow http://t.co/vNh2q01gcg
2 hours ago
#FOMC minutes show committee members debated erasing 'considerable time' from forward guidance #NewsNow #Market http://t.co/Gw0bEIFCe2
4 hours ago
NCUA votes 2 to 1 to approve 2015 budget: McWatters is dissenting vote.
6 hours ago
.@TheNCUA bd mmber McWatters at #NCUAbdmeeting invited specific, detailed comments on budget/budgetary process to be sent directly to him.
6 hours ago