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.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Politics and policy

Housing bill passes House with community bank riders

A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.

By Claire Williams

5h ago
Banking

15 most recent bank failures

Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.

By Editorial Staff

7h ago
Regulation and compliance

CFPB blocks GAO investigators in layoff report

The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.

By Kate Berry

7h ago
Federal Reserve

Fed's Waller: 'Everyone is yelling at me' on skinny accounts

Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.

By Maria Volkova

7h ago
Fraud

Georgia woman sentenced for $1.5 million bank fraud scheme

Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.

By Carter Pape

9h ago
Corporate governance

KeyCorp, Eastern get relief as activist investor backs down

The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.

By Allissa Kline

9h ago