Missouri CUs Plan Business LoanCUSO

Published April 13, 2005, 1:00 a.m. EDT

|

Updated August 27, 2020, 2:31 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

Fraud

BMO payments partner to pay $12M for serving shell companies

A consulting firm working for BMO Harris flagged the processor's chargeback problem in 2015. The FTC says the shell accounts kept coming through 2023.

By Carter Pape
Technology Reporter

3h ago
Artificial Intelligence

AI ROI estimates tend to leave one thing out

The first two articles in this series addressed what banks should measure and how. This final article asks what people often get wrong in calculating AI ROI.

By Larry Cao, CFA
Senior Market Intelligence Analyst, AI

4h ago
Wealth management

IBKR's custody pitch to RIAs focuses on low fees, growth potential

Interactive Brokers, also known by its hot ticker symbol of IBKR, shares much more fee information than most custodians, without revealing much in the way of its scale among RIAs. Can it gain greater reach in a competitive channel?

By Tobias Salinger
Chief Correspondent

September 9
Banking Crisis 2023

FDIC won't have to return $1.71 billion to SVB creditors

A federal judge found SVB Financial's management negligently prioritized yield over safety, allowing the Federal Deposit Insurance Corp. to retain the deposits after the bank's 2023 collapse.

By Claire Williams
Reporter

September 9
Wealth management

Banks flash 'exit signals' to advisors as they push further upstream

Justin Duke's move from BNY Wealth to Simon Quick Advisors shows how higher fees, rising asset minimums and tighter client constraints are pushing some bank advisors toward RIAs.

By Dan Shaw
Reporter

September 9
Secondary markets

Q3 agency MBS lags targets as home equity, non-QM gain ground

BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.

By Brad Finkelstein
Originations Editor

September 9

Load More