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CU System
PCUA plans biz lending academy
HARRISBURG, Pa. (12/6/07)--The Pennsylvania Credit Union Association (PCUA) announced that it is working to create a business lending academy not only for credit unions in Pennsylvania, but also for those in the Mid-Atlantic region. Molly Snody, director of business advisory services at the PCUA, is heading up the effort. “I’m sensing a big need for business lending training--for credit unions of all stages of implementing their lending programs,” Snody told News Now. Snody currently provides on-site training to credit unions who are considering the market of member business lending. “We’ve had great success,” she said. Through the academy, Snody hopes to educate credit unions about lending. Prolific credit union lenders are running against their member business lending caps, which are imposed by the National Credit Union Administration. They need outlets to sell loans to, she said. Snody is currently surveying credit unions to find out how the academy could best fill their training needs. The academy will be based on feedback from the survey, and Snody hopes to launch training in early spring. Four credit unions actively involved in lending have already responded to the survey. “We’re hoping to hear from credit unions just starting out,” she said. Snody initially thought of doing the academy in the form of a workshop over several days. She is using the survey to ask credit unions how the training should be offered. Her current training is in-person and customized to each credit union’s needs. Snody emphasized that the academy isn’t necessarily encouraging credit unions to get into member business lending, but rather to help those who are committed to it understand the process.
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