The $154-million Community One FCU has become an equity owner in Business Partners, LLC, a CUSO in which the founding credit union, Telesis Community Credit Union in Chatsworth, Calif., has sold ownership to several other credit unions. The turnkey operation specializes in business real estate and small business lending, and recently unveiled a small business services model geared toward the SBA Express and small business loan products. The CUSO also specializes in loan participation, underwriting, servicing and quality control. "Through Business Partners, Community One can diversify by investing in and receiving a substantial return on member business loans, with the advantage of fast to market expertise that could potentially take us years to gain," said Community One FCU CEO Alan Pughes.
-
The top five banks and thrifts have combined total assets of nearly $13 trillion.
Just now -
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
1h ago -
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
1h ago -
A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.
4h ago -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
April 22