Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CU Companies reports earning cites correspondent lending
NEW BRIGHTON, Minn. (2/1/12)--Citing strong growth in ancillary services such as correspondent lending, CU Companies, a New Brighton, Minn.-based credit union service organization (CUSO), is reporting strong year-to-date earnings in the first five months of its fiscal year.

"We've always had the mindset of looking for ways to build economies of scale," said Brad Crandall, CU Companies CEO. "As a CUSO, that initially meant having multiple organizations come together to provide one service for all. Today that also means providing additional services that leverage our mortgage expertise."

Crandall credited the CU Companies' new secondary market solution, Correspondent Lending, for helping the organization create those economies of scale.

"We've been doing retail mortgage lending for nearly 25 years," he said. "We saw adding this new way of funding mortgages as a means to better manage the ebbs and flows of the industry while providing a solution for a growing need."


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
14 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
16 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
17 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
18 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
18 hours ago