“The service we deliver to our members is really important. Having a streamlined and automated commercial lending system helps ensure that they keep coming back to us when they need assistance with future investments – and that is exactly what D+H enables us to do.”
Todd Johnson, VP/business and mortgage lending, Cyprus Credit Union
Going from $100 to Millions
Cyprus Credit Union has never forgotten its humble community origins. Founded in 1928 as a not-for-profit cooperative by 22 Kennecott Copper Company employees with assets totaling less than $100, Cyprus CU is the oldest active credit union in Utah with 18 locations scattered across the Salt Lake Valley serving over 98,000 members.
The area is a high-growth market, and Cyprus CU sees lending, especially commercial lending, as an important part of its business. Today, commercial lending accounts for approximately $85 to $95 million in loan balances and $25 to $30 million in annual loan approvals for the credit union, which has seen growth among new and existing members. “We take great pride in how we service our members, and we see a significant number of referrals coming from them,” says CUES member Todd Johnson, VP/business and mortgage lending at Cyprus CU.continue reading »