Ga. Central Rolling Out Loan Participations Nationally
Georgia Central CU plans to roll out an online loan particiation service, called MemberMatch, later this month that will match credit unions anywhere in the U.S. who want to participate in loans. To date, particiapation in the service has been limited to Georgia credit unions. The program connects credit unions interested in either buying or selling loans, stores the data about loan participation pools that are available, as well as specifics about what buyers are looking for. Purchasing credit unions may sign up to use the notification agent, which will alert them when a pool of loans is posted meeting their criteria. The service will be offered free throughout the remainder of the year, after which it will be priced on a market-based fee schedule.