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
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
9 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
10 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
12 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
13 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
13 hours ago