HARRISBURG, Pa. (3/18/13)--The Pennsylvania Credit Union Association's Member Business Lending (MBL) Participations Conference and Buyer/Seller Networking featured several expert speakers Thursday in Lancaster.
A Pennsylvania Credit Union Association panel discussion on member business lending participations included, from left: Rick Wieczorek, Mid-Atlantic Corporate FCU, Middletown; Dallas Zulli, AmeriChoice FCU, Mechanicsburg; Tammy Baker, Members 1st FCU, Mechanicsburg; Robert Fox, American Heritage FCU, Philadelphia; and Jeff Judy, Jeff Judy & Associates. (Photo provided by the Pennsylvania Credit Union Association)
The event attracted more than 50 people from 30 credit unions in four states. It was sponsored by Keystone Business Lending Services LLC and Member Business Financial Services LLC (Life is a Highway
Kevin Dion, vice president of business lending for Citadel FCU, Exton, explained the basics of loan participations and why the basics are critical to comprehend. Bill MacMaster, National Credit Union Administration regional lending specialist, provided information about the NCUA's perspective on MBL participations and answered questions.
PCUA staff attending included: Rick Wargo, executive vice president/general counsel; Molly Snody, director, business advisory services; and Glenn Cermak, director, education and professional development.
The Credit Union National Association and credit unions reintroduced in Congress last month legislation to raise credit unions' member business lending cap to 27.5% of total assets, from the current 12.25%. Doing so would generate $14.5 billion available for MBLs and increase jobs by 158,000 in the first year, without costing the taxpayer, according to new statistics from CUNA.