Missouri CUs Plan Business LoanCUSO

April 13, 2005, 1:00 a.m. EDT 1 Min Read

JEFFERSON CITY, Mo. - (04/13/05) -- Missouri credit unions are planningto introduce a new member business lending CUSO that will provideback-office services to credit unions wanting to offer businessloans. So far eight credit unions and the Missouri Corporate CUhave joined Heartland Business Services LLC, which is beingorganized by the Missouri CU Association, according to Amy McLard,spokesman for the state league.. The CUSO, slated for opening inthe third quarter of the year, will offer underwriting, creditcounseling, servicing and document preparation., McLard told TheCredit Union Journal. The league hopes to attract as many as 15credit union investors in the CUSO. Participants so far:Anheuser-Busch Employees CU, Mizuma CU, Midwest United CU, VantageCU, Mizzou CU, St. Louis Postal CU, Electro Savings CU and WestCommunity CU.

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