Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUs tell of innovations in biz services
PORTLAND, Ore. (4/10/08)--Business lending is not an area credit unions should ignore, according to speakers at the second annual CU Business Group national convention in Scottsdale, Ariz.
CU Business Group held its second annual national convention, themed “Innovation in Business Services,” in Scottsdale, Ariz. Attendees heard stories from credit union speakers about maximizing business lending opportunities. (Photo provided by CU Business Group)
Speakers at the convention, themed “Innovation in Business Services,” discussed how they have maximized business lending opportunities. “We simply have to serve business in our market,” said Anna DeYoung, CEO, Sky FCU, Livingston, Mont. “We can’t let size be a deterrent.” Sky FCU maximized business opportunities through lending and deposit products, she added. Patelco CU, San Francisco, has a unique program that focuses on buying business loan participations, said Chris Oldag, Patelco senior vice president of lending. Oldag spoke about the challenges the credit union faced while building its $300 million participation portfolio, which he said is the largest in the industry. Participation in business lending increased in 2007, but so did the business loan delinquency rate, said Larry Middleman, president/CEO, CU Business Group. The rate was 1.82% in 2007, up from 0.53% in 2006. High performance compensation strategies for business lenders, branding and techniques for maintaining a mature business program also were discussed. The conference offered sessions on portfolio management and advanced deposit products. CU Business Group provides business lending, deposit and consulting services to credit unions nationwide. It has 11 corporate credit union partners.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
21 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
23 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago