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Corporates CUSO underwrites 2B in biz loans
TALLAHASSEE, Fla. (6/8/11)--Credit union business lending is on the uptick, says Member Business Solutions LLC (MBS), the credit union service corporation (CUSO) of Southeast Corporate FCU and Georgia Corporate CU. The CUSO has underwritten $2 billion in business loans, reaching that milestone 18 months after underwriting its first $1 billion in loans. MBS says the uptick is the result of an increase in credit unions' business lending activity and the recognition by partners of its value. "We focus on giving our lenders a thorough underwriting package in one to three business days, which allows them to effectively compete in the small-business market," said MBS President Jim Gallagher. Gallagher noted MBS partners' delinquency statistics are well below industry average. "Our focus since inception on appropriate risk selection and thorough global debt-service analysis has been the biggest reason for our success," he said. MBS has re-launched its website at www.mbsllc.org with enhanced navigation to make it easier for prospective partners to view testimonials from current clients. MBS serves more than 70 credit unions throughout the country. It provides loan services for all types of member business loans such as loan documenta6tion, underwriting and servicing, and participation brokerage.


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