© 2025 Arizent. All rights reserved.
Lending

CU Companies Introduces Correspondent Program

July 13, 2011, 7:15 p.m. EDT 1 Min Read

NEW BRIGHTON, Minn. – CU Companies, a mortgage CUSO owned by area credit unions, is now offering a correspondent lending program for credit unions.

The program will allow participating credit unions to generate more revenue by giving them more control over the lending process. The credit union will originate, process, and close the loan while CU Companies will underwrite and purchase the closed loan.

“Our Correspondent Lending program is a solution that promotes loyalty,” said Brad Crandall, CEO of CU Companies. “We won’t back-solicit our partners’ members with financial services their credit union already provides.”

The program is being offered to credit unions in Illinois, Iowa, Minnesota, North Dakota, South Dakota and Wisconsin.

 

For reprint and licensing requests for this article, click here.
Lending
MORE FROM AMERICAN BANKER
How the Trump administration has neutralized the CFPB

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

By Kate Berry
2h ago
7 Min Read
CFPB exterior no signage 4
More rate cuts eyed as Fed zeroes in on soft labor market

Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.

By Maria Volkova
11h ago
4 Min Read
Jerome Powell
Bank stocks rise on Fed's first rate cut of 2025

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

By Allissa Kline
September 17
4 Min Read
New York bank doubles down on insurance with big investment

Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.

By John Reosti
September 17
4 Min Read
syracuse, new york
Minnesota credit union is launching its own stablecoin

St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.

By Melinda Huspen
September 17
4 Min Read
BankThink on increased need for AML with stablecoins
Affirm, Klarna, deepen ties with Apple

The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.

By Joey Pizzolato
September 17
3 Min Read
Apple Pay