PORTLAND, Ore. (11/23/15)--With the addition of 35 new credit union clients this year, business services credit union service organization CU Business Group (CUBG) is now serving more than 500 credit unions in 46 states.
“Credit unions continue to see business services as a growth and diversification opportunity,” commented CUBG President/CEO Larry Middleman. “While some are just getting started, others are ramping up to serve larger, more sophisticated businesses and are coming to CUBG for assistance and expertise.”
Credit unions engage CUBG for a variety of program assistance, including back office commercial lending support for underwriting, loan documentation, and annual reviews. The CUSO has also seen rapid growth in requests for third-party reviews of the business lending portfolio and operations, and has assisted several credit unions with business deposit program design and support. Other recently added clients have turned to CUBG to buy or sell business loan participations through CUBG’s nationwide participation network.
“In a recent poll conducted by CUBG, 86% of credit unions said they plan to expand, grow, and do more in business lending in the next three years, while 75% of credit unions said they plan to do more in business deposits,” Middleman said.
“At the same time there are credit unions looking to simply maintain their current programs that need additional help with annual reviews, policy guidance, or education for their staff,” Middleman added. “CU Business Group is fortunate to be able to assist credit unions in all of these areas.”