Member Business Financial Services (MBFS), the credit union-owned business lending Credit Union Service Organization (CUSO) that services more than $2 billion in business loans and partners with over 70 credit unions nationwide, has announced a Board Chair transition. Bruce K. Foulke, President & CEO of American Heritage Credit Union (American Heritage), founded MBFS and has served as its Board Chairman since its inception in 2008, overseeing its growth into one of the nation’s leading business lending CUSOs. Foulke recently announced the transition of the MBFS Chairmanship role, as a result of his intent to focus on new CUSO development opportunities as well as American Heritage’s continued growth. In May, the MBFS Board of Directors unanimously elected seasoned credit union executive and CUSO Director Brian Hahn as Chairman of its Board of Directors.
“American Heritage has recently achieved $4 billion in assets and MBFS has now achieved $2 billion in its servicing portfolio,” stated Foulke. “As these organizations approach this significant scale, and as American Heritage continues to evaluate and invest in new and innovative CUSO opportunities, it is time to deepen the leadership roster to our family of CUSOs as they continue to adapt, grow, and prepare for the future. As such, this is the ideal time to transition the Chairmanship at MBFS, and Brian Hahn is the perfect individual to assume these responsibilities. Brian already oversees a large commercial loan portfolio and high-performing business lending team at American Heritage and has served as a respected Board member at multiple CUSOs.”
Hahn has served in advancing leadership roles for more than 30 years in the credit union movement. As Executive Vice President and Chief Operating Officer of American Heritage, Hahn oversees commercial and consumer lending, information systems, branch operations and facilities functions for the organization. A graduate of Temple University and the CUNA School of Management, Hahn also serves as Board Chair of Pennsylvania Credit Union Service Centers, a CUSO that provides shared branching services for more than 50 institutions statewide. He also previously served on the Board of Directors for the uGenius CUSO, the company that innovated and developed PTM/ITM technology for credit unions, prior to its successful sale to NCR Corporation.
“MBFS has continually been at the forefront of credit union commercial and small business lending,” stated Chairman Brian Hahn. “With the recent launch of its digital small business lending platform, Nu Direction Lending, MBFS is leading the way in the CUSO fintech space and is well-positioned to succeed and adapt in the ever-changing digital lending landscape while remaining faithful to outstanding member service. I am excited to work with the MBFS staff, borrowers, partner credit unions, and Board of Directors.”
“On behalf of the MBFS Board members, we commend Bruce for his vision and leadership and look forward to continue on the same path with Brian Hahn as our Board Chairman,” stated Mark Ritter, CEO of MBFS. “Bruce Foulke was the leader of a group of credit unions that came together to form MBFS in 2008. With Bruce’s vision as Chairman, we have grown from a small regional CUSO to now serving over 70 credit unions and servicing more than $2 billion in commercial loans. Our owners and partner credit unions will continue to benefit from Brian’s leadership.”