Business lending webinar series discusses increase in volume & competition for credit unions
TREVOSE, PA (June 21, 2018) — Member Business Financial Services (MBFS) recently held the third quarterly webinar in its ongoing series, Credit Union Business Lending Today.
Mark Ritter, CEO of MBFS, began with a recap of the increasing business loan volumes the industry is seeing so far in 2018. The number of member business loans is up 7.5% year over year, while the dollar amount of member business loans has increased 24% year over year. Ritter also discussed the increasing competition the industry is seeing from regional and national banks, the impact of business loan deregulation, opportunities in credit cards, and the short-term rental vs. hotel markets.
“Business loan volumes have continued to grow, but we’re starting to see lower win rates due to more intense competition from banks,” said Ritter. “Now is a great time for credit unions to take a closer look at their programs to ensure that their business lending policies are effective in all market cycles and that there is sufficient in-house understanding of the types of loans being made.”
The quarterly webinar series, Credit Union Business Lending Today, covers a wide range of topics in an economical manner. Each session begins with an overview of the marketplace and industry. The webinars also include brief reviews of regulatory or compliance issues, a technical education portion and an industry or market segment focus. The series is open to all interested credit unions with discounted registration available for current MBFS clients. For more information on how to register for the series, please visit www.mbfs.org or email us at info@mbfs.org.
About Member Business Financial Services, LLC (MBFS)
MBFS assists credit unions in funding business loans within their market. The CUSO is headquartered in Bucks County, PA but works with credit unions nationwide through a remote workforce to provide loan servicing, portfolio management services, loan underwriting, coordination of loan participations, and preparation of loan documents. MBFS has grown to serve over 80 credit unions and services more than $2 billion in business loans. Learn more at www.mbfs.org.
MBFS is a Credit Union Service Organization jointly owned by American Heritage Federal Credit Union, American Spirit Federal Credit Union, Century Heritage Federal Credit Union, Clearview Federal Credit Union, West-Aircomm Federal Credit Union, Discovery Federal Credit Union, Launch Federal Credit Union, Sun East Federal Credit Union, People First Federal Credit Union, Erie Federal Credit Union, Choice One Community Federal Credit Union, Eagle One Federal Credit Union, and Service 1st Federal Credit Union.
