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
.@CUNAMutualGroup Klewin shares final thoughts, forecast on lending regulations with @cumagazine before retiring http://t.co/v78QY3QwqB
26 minutes ago
Current @CUNA COO @JillTomalin promoted to deputy chief of staff
56 minutes ago
#CU Effect:@ChartwayFCU 'branch of the future' 2 benefit members, staff. 2nd installment of new News Now series here:http://t.co/ImBY4nupEj
1 hours ago
U.K. regulators have given formal authorization for the @c_of_e to form a #creditunion.
1 hours ago
#BREAKING: Fed remaining 'patient' on rate-hike decision, keeps 'considerable time' in policy statement #Market http://t.co/XykelROtcA
1 hours ago