CU Companies plans to expand into five additional states.
The New Brighton, Minn.-based credit union service organization announced in a Friday press release that its territory will include Nebraska, Tennessee, Kentucky, West Virginia and Wyoming. With these additions, CU Companies will have nine account executives that will focus on 22 states.
Brad Crandall, chief executive at CU Companies, said the expansion is part of a deliberate growth plan, as the loan-servicing CUSO continues to build scale and efficiencies. "We are able to move into new states because of the processes we put into place which allows us to very effectively service greater volumes," Crandall said in the release.
To assist in managing the new states, CU Companies hired new account executives. Among them is Nicole Cowan, previously the vice president of lending and CFO for Perfect Circle Credit Union in Hagerstown, Indiana, will work with credit unions in Indiana, Kentucky and Tennessee; and Joe Chodkiewicz, formerly a regional accounts manager for Lenderlive Correspondent Lending, will work with credit unions in Michigan, Ohio, and West Virginia.
Another account executive, Matt Warzala, who joined CU Companies last year, will manage two of the new states, Nebraska and Wyoming. In addition, he will work with financial institutions in Minnesota and South Dakota.
CU Companies is owned by more than 60 credit unions in Minnesota and is licensed to to service loans in 44 states.
