Community One Invests In Business Loan CUSO
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.