Middleman Shares Key Business Lending and Deposit Insights
ALEXANDRIA, VA (October 16, 2014) — Larry Middleman, President/CEO of CU Business Group, shared key insights on business lending and deposits at CU Business Group’s 2014 National Business Services Conference last week in Alexandria, Virginia.
In the commercial lending arena, Middleman reported that recent Federal Reserve Bank forecasts for commercial real estate show strong activity in 8 of 12 of the FRB regions, which will result in increased demand for loans.
Middleman also discussed the recent trend toward alternative types of business lending such as equipment leasing, SBA lending, and small business working capital loans. These products are available through third party alliances and can help credit unions approve more loan requests. This will in turn help grow the MBL program and help the credit union serve a larger share of the market, including those segments not currently served by conventional product lines, he explained.
Additionally, Middleman commented on the significantly higher payback from relationships with larger, more sophisticated businesses. He stressed the importance of offering advanced deposit products such as remote deposit capture, ACH origination, expanded merchant card services, and sweep accounts to win over these relationships. He also noted that credit unions must have the right expertise and resources to support this level of a business deposit program.
This year marked CU Business Group’s 8th annual conference focused on business services, and the first on the east coast. CUBG will host conferences in Portland, Oregon and the Washington, D.C. area in 2015.
About CU Business Group
Established in 2002, 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 36 professionals and is the largest business services CUSO in the industry, serving more than 470 credit unions in 45 states. For more information, visit www.cubg.org.