Representatives from more than 200 credit unions turned out for a workshop on member business loan regulations here. NCUA's new MBL regs go into effect Oct. 31.
The workshop was part of the Partnering and Leadership Successes (PALS) initiative being championed by NCUA board member Debbie Matz, who along with NCUA Vice Chair JoAnn Johnson developed the new regulation.
"Business lending is an opportunity for credit unions to reach many different types of members with services most simply can't get elsewhere," Matz told the group.
"One of the most important points made by panelists is that the biggest risk could be the missed opportunity of NOT making member business loans," Johnson added.
The panel included government experts, credit unions and business loan consultants offering advice on how to manage member business lending risks. NCUA said that effective Oct. 31, presentations from the workshop will be packaged into a free CD and made available at www.ncua.gov.
