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CU Business Group Now Serves Over 400 Credit Unions in 44 States
(Portland, OR – October 24, 2012) – Large or small, CU Business Group serves them all – from credit unions just starting out in business services to those with well-established programs. The 10 year old business services CUSO has signed on 28 new credit unions in 2012 and reached a major milestone, now serving more than 400 credit union clients in 44 states.
CUBG’s new credit unions vary in size, ranging from $18 million to $50 billion in assets. As the largest business services CUSO in the industry, CUBG averages three new credit union sign-ons per month.
“Our organization is set up to help credit unions of any size with their business services needs,” explained CUBG President/CEO Larry Middleman. “That can mean anything from helping them get their program off the ground to performing a third party review of their entire portfolio, and everything in between.”
In fact, CUBG recently started offering many services a la carte rather than as part of a product package. This has allowed them to meet the needs of credit unions with programs of all shapes and sizes.
“One credit union may need help with every step of underwriting, loan docs and servicing, while another may simply need to use us as a backroom processor to get the financial spreads done. Likewise on the deposit side, a credit union may need our whole package of treasury management services—including systems, policies, and procedures; another may simply be looking for a sample policy template,” said Middleman. “Either way, we can help.”
In an average month, CUBG’s team of underwriters review $50 million in MBLs and $25 million in participation loans for credit unions. The CUSO also performs 60 annual reviews and prepares an average of 120 sets of loan documents each month.
Middleman also comments that CUBG continues to see increased interest in SBA lending and participations, as well as the need for independent third party reviews of MBL programs and portfolios. “We are working hard to bring high quality participation opportunities to our growing network.”
CU Business Group, LLC, provides a wide array of business lending, deposit and consulting services to credit unions nationwide. CU Business Group provides products and technical expertise to credit unions with advanced business programs, and all the basics for those just starting out. Based in Portland, Oregon, with offices in the West, Southwest and Eastern U.S., CU Business Group has a staff of 28 professionals and is the largest business services CUSO in the industry, serving 405 credit unions in 44 states.