MBFS Board approves up to $30,000 in matching grants to local food banks
TREVOSE, PA (May 27, 2020) — The Board of Member Business Financial Services (MBFS), the CUSO formed in 2008 to assist credit unions with funding member business loans in their markets, recently approved up to $30,000 in matching donations to local food banks for the CUSO’s partner credit unions involved in the PPP loan program. MBFS has helped 30 of its partner credit unions fund 2,700 Paycheck Protection Program (PPP) loans for a total of $147 million.
“The PPP loan program was chaotic and ever changing, pushing credit union staff and our CUSO staff to work harder and longer than ever before,” says Mark Ritter, CEO of MBFS. “As a way to say thank you to our credit union partners for participating in the PPP program and to assist their local communities during this difficult time, the MBFS Board of Directors has approved a special program to match up to a $1,000 donation to a local food bank in each credit union’s marketplace.”
The CUSO provides strategic development, credit services, loan documentation, and loan servicing for business purpose loans, in addition to other member business lending solutions. MBFS currently serves over 60 credit unions and services a business loan portfolio of $1 billion through a 100% remote workforce supporting the multiple markets it serves.
About Member Business Financial Services, LLC (MBFS)
MBFS assists credit unions in procuring, underwriting, processing, and funding business loans within their markets, as well as nationwide. The CUSO also provides individualized servicing options tailored to each of the credit unions it serves. Headquartered in Bucks County, PA, MBFS’ remote workforce of experienced lending professionals currently serves over 100 credit unions with a combined servicing portfolio in excess of $2.5 billion. The CUSO is well positioned to continue the expansion of its member business lending, participation, and servicing success.
Learn more about MBFS, our lending programs, and our nationwide network of credit union partners by visiting www.MBFS.org or contacting us at info@mbfs.org.
