Banks Colaborate With CUs on Business Lending

SAN ANTONIO, Texas – Increasing numbers of banks are abandoning their antipathy to credit unions and joining them, instead on business lending. Stephen Mackowitz, vice president commercial lending for Digital FCU, told attendees to CUNA’s annual Lending Council conference yesterday that Citizens Bank and even giant Bank of America have sent MBL customers to his credit union. Pete Van Graafeiland, vice president of mortgage and business services for Coastal FCU, said his credit union has even financed new branches for three different banks. In addition, they have entertained bankers at the skybox they rent at the National Hockey League’s Carolina Hurricanes games. “It doesn’t hurt to get banker buddies,” said Craig Carpenter, senor vice president member business services at SELCO Community CU.